A New York man who has watched a Bronx neighborhood fall into despair over decades is hoping to help un-blight the troubled area.
Harry De Rienzo is trying to rehabilitate some of the city's worst buildings to provide more housing for a troubled neighborhood.
"In the feverish real estate speculation of the past decade, buildings like these were passed back and forth among landlords and banks. But since the bubble burst, the properties have fallen into financial limbo; many owners cannot keep up on mortgage payments, much less repairs.
'This is a real big problem,' said Mr. De Rienzo, 57, a plain-spoken, streetwise New Yorker who is now chief executive of Banana Kelly. 'They thought they could always cash out their equity and flip the property. But when the recession hit, that kind of predatory investing stopped - and the tenants got stuck.'"
FULL STORY: In the South Bronx, Blight Returns to a Rehabilitated Block
Rents Rise in New York City Even as Eviction Crisis Mounts
Although many tenants are still waiting for rental assistance funds to avoid eviction, rents are rising steadily in the city's wealthiest boroughs.
Planning Department Study Documents Storefront Vacancy in NYC Neighborhoods
A new report from the New York Department of City Planning has found that storefront vacancy may not be a one-answer citywide problem. Vacancies were found to be concentrated in certain neighborhoods, and the reasons appear to be varied.
A Strong Voice of Support for Value Capture to Fund Subway Repair
In an opinion for City & State, Kathryn Wylde, president of the nonprofit Partnership for New York City, makes the case that the Metropolitan Transportation Authority should be allowed to tax properties where value is enhanced by subway proximity.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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