The New York MTA is planning to shut down the L Train from Brooklyn to Manhattan in 2019, and renters in the area no longer find the area along the route as attractive.
"Since the L train shutdown was announced in early 2016 there has been much hand wringing over what might happen to real estate along the affected route," according to an article by John Surico. "But for close to two years, not much happened. The area’s already-inflated prices just continued to grow and grow, as they have largely done citywide."
Now, however, come signs that the L Train's closure has begun to impact housing prices.
According to findings from StreetEasy, a real estate company that crunched its own listings data over the last two years, the number of apartments available in Williamsburg has gone up by a quarter, outpacing demand—a telling sign that many residents have started to relocate. Nearly a third of apartments have received a price cut from landlords, and another 18 percent have seen concessions offered in the form of free rent. And it’s happening across the board, not just for the ultra-lux condos that have come to define the area.
After sharing those findings from the StreetEasy study, Surico sits down for an interview with Nancy Wu, StreetEasy economic data analyst, to discuss the study and its findings in more detail.
FULL STORY: Rent in Brooklyn Is Finally Kind of Sort of Going Down a Little Thanks to the L Train Shutdown
First Weekend of L Train Slowdown Could Have Been Worse
The long awaited repair work on the L Train between Brooklyn and Manhattan launched over the weekend.
How the New L Train Repair Plan Will Work
After the initial shock of Governor Andrew Cuomo's cancellation of the planned L Train closure subsided, analysis and commentary rolled in.
Breaking: Gov. Cuomo Cancels L Train Closure
Surprise, shocking news from New York City, as Governor Andrew Cuomo steps in at the 11th hour to change course on the highly anticipated (and dreaded) L Train closure scheduled to begin later this year.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)