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.
Read the 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.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
US buildings threatened, destroyed by fires set to triple by 2060
Researchers found a high fire risk for socioeconomically vulnerable neighborhoods in the American West.
LA residents may be allowed to paint their own crosswalks
Councilwoman Katy Yaroslavsky put out a motion instructing the Los Angeles Department of Public Transportation to study the feasibility of allowing volunteers to paint crosswalks.
Dallas moves to overhaul its zoning code
The city's zoning reform will allow more multi-family and mixed-use developments.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority