Literally hundreds of luxury high-rises are in development in Manhattan and the outer boroughs. While low-income housing such as Mitchell-Lama is being phased out, the new low and moderate income units being constructed are grossly inadequate. It is increasingly obvious that the economic development is not being evenly spread and that New York is moving closer and closer to a two-tier city of rich and poor. We decided to make a film about this... See the Promo!
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Vanishing New York — The Documentary
Like many cities across America, New York has been changing rapidly. But as recently as 1990 it still had many old-fashioned aspects. Bakeries, butcher shops, family-owned grocery stores, bars and coffee shops were places where neighbors gathered and gave each other a sense of community.
Then, in the mid-nineties, with the influx of cash and low-interest loans, developers seized on the opportunity to invest in the city. Dangerous neighborhoods that had been made "hip" by artists living there now attracted the working wealthy and big investors. High-rise luxury buildings and chain stores started replacing the smaller residences and neighborhood shops that were the "glue" of the community.
Through a mix of archival footage, current photographs and film, interviews with long-time residents and merchants, footage of community board hearings, and discussions with investors, politicians and real estate developers, we explore the effects of development on various neighborhoods of New York City.
Current Issues
- 600 new building projects are now under construction or in planning in the city.
- 89 luxury skyscrapers are scheduled or are in the process of being built in downtown Manhattan.
- NYU projects a need for an additional 6 million square feet of space. That would be the equivalent of 34 of their new 26 story "megadorm" constructed on 12th street.
- 3 billion in tax breaks doled out to corporations and upscale housing, while working class New Yorkers pay more than half their income in rent.
- Small businesses and middle income New Yorkers are being priced out of the city at an unprecedented rate.
- "Literally New York is losing African Americans. In the last five years there has been an exodus of 40,000 African Americans."
—Darren Walker, Vice President, The Rockefeller Foundation
During the Municipal Art Society event "Is New York Losing its Soul?" - Columbia University plans to seek eminent domain in order to expand their campus, which would displace 5,000 people and would include bulldozing the historic Cotton Club.
- Luxury developers benefit from 421-a tax abatements - which cost the city $320 million in 2006 (Downtown express, volume 18 * Issue 49 April 2006)