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Is New York Becoming a ‘Gated Suburb’?

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The Manhattan skyline as seen from Long Island City. (Photo by Bruno J. Navarro)

NEW YORK — The Big Apple is in danger of turning into a “gated suburb” by increasing gentrification and the loss of economic diversity among its inhabitants, University of Toronto professor Richard Florida said recently.

I look at New York City today — with warts and all, it does look more like a suburb. If you look at what people are living in on the Upper East Side, in these new towers, 3,500 square feet for a family of two, a parking spot in the garage or next to your unit … This morphing of what we used to think of as urban lifestyle and suburban lifestyle is really intriguing.

During an Oct. 13 panel at the New York University Schack Institute of Real Estate, Florida said that the same forces were at work in other popular cities, such as London, Los Angeles and San Francisco, Quartz reports..

Massachusetts Institute of Technology once called Florida the world’s most influential thinker. So there’s that.

Written by Bruno

2016.10.14 at 10:28

Posted in New York, real estate

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