Hurry Up and Wait

NYC's Mayor Bloomberg oversaw the rezoning of thousands of blocks, yet many of the development projects he envisioned as the key to the city's future success are now stalled or in jeopardy.

1 minute read

October 29, 2009, 2:00 PM PDT

By Alek Miller

"His administration poured $16 billion into financing to foster commercial development and affordable housing and created quasi-local organizations to promote its initiatives and blunt neighborhood opposition.

And when the economy was burning white hot, as it did for several years, the mayor's plan appeared to be bold and forward-looking, a prescient decision to remake portions of the city in order to lure companies, create jobs and increase economic vitality.

But that vitality is missing in some sections of New York today, where developments spurred in part by easy credit and in part by city initiatives are now stalled or in danger of collapse."

FULL STORY: A Stalled Vision: Big Development as City's Future

Wednesday, October 28, 2009 in The New York Times

Community / Economic Development Government / Politics New York Economic Development Urban Development Bloomberg New York City View More

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