CityRealty Insider > New Developments in the News

New Developments in the News

MAY 4, 2009

Affordable housing welcome; big buses, not so much, in downtown districts.

In what has long been one of the city's wealthiest neighborhoods, affordable housing has gained a bit of valuable ground in the form of an agreement on an 11-year extension of rent protections at Gateway Plaza, a 3,500-tenant complex in Battery Park City. Assembly Speaker Sheldon Silver announced the deal in early April, adding that it had not been finalized.

Also in TriBeCa news, commuter buses are at the center of a dispute between the city's Department of Transportation and community groups. A plan to allow the buses to park on West Street met with complaints from residents, who feel the buses—which must move from their current parking location due to construction—would worsen already-heavy Holland Tunnel traffic conditions, and further aggravate a situation that has, in the words of City Councilman Alan J. Gerson, "more long distance bus passengers loading and disembarking in Chinatown than at the Port Authority bus terminal." The DOT has agreed to delay the plan to relocate the buses while other alternatives are explored.

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An equal housing opportunity

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