Battle Over Housing In New York's Wealthiest Zip Code

"The neighborhood of TriBeCa has undergone a sea change in the last two or three decades, with luxury towers and converted apartment lofts replacing the factories and warehouses that once dominated the gritty, low-rise area.

The neighborhood is now part of the richest ZIP code in New York City and the 12th richest ZIP code in the country, according to a recent study by Forbes. Currently, only about 18% of north TriBeCa is zoned for residential use, and the development community is hoping to cash in on the seemingly insatiable demand for luxury housing."

A new proposal to upzone a four-block area of the community to allow for a 100 foot high residential building has mobilized opponents in the community, who want to preserve the areas low-rise character.