Williamsburg, What's Good?
There Goes the Neighborhood
WNYC Studios and KCRW
4.8 • 543 Ratings
🗓️ 6 April 2016
⏱️ 30 minutes
🧾️ Download transcript
Summary
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| 0:00.0 | Previously, on There Goes the Neighborhood. |
| 0:05.0 | The city actually has been in what is legally known as a housing emergency for decades. |
| 0:16.0 | It is the most ambitious, broadest, strongest housing plan of its kind in the country. |
| 0:23.6 | A rezoning is when the city changes the rules about what can get built where. |
| 0:30.7 | In Brooklyn, over the last five years, you know, depending on the neighborhood, |
| 0:42.4 | we're seeing 20% returns year over year. |
| 0:50.0 | For developers, it is worth building housing priced for that higher group because the ultimate payoff is going to be that much greater. |
| 0:53.2 | The lines are created by the real estate industry. |
| 0:56.8 | That's the marketing tool. |
| 0:59.2 | So what this plan does is if you're in a rezoned area, |
| 1:02.8 | you have to build affordable housing as part of it. |
| 1:06.8 | And if no one in your family has ever owned, |
| 1:09.1 | it's hard to understand what it means to own. |
| 1:14.6 | There goes the neighborhood. |
| 1:15.5 | There goes the neighborhood. |
| 1:17.8 | There goes the neighborhood. |
| 1:22.9 | So New York City has an affordable housing shortage. |
| 1:25.6 | But at the same time, money's pouring in from all over the world to buy high-in real estate here because of the huge return on investment. |
| 1:32.6 | Perfect Storm does not do justice to the description for what's going on. |
| 1:36.9 | I'm Kairite. I'm an editor at the Nation magazine, and my WNYC colleagues and I have explored the nuts and bolts of this gentrification thing, |
| 1:44.6 | but we also want to consider how it feels. |
| 1:48.3 | We know historically there has been tension when newcomers come into a neighborhood. |
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