Transit-Oriented (Waterfront) Development
- Nov 08, 2010
Every time we go to the beach (it’s the Rockaways for us), my husband remarks that he can’t believe such a beautiful spot has been so underutilized by the city. True, the beach is packed all summer and the concessions are open and the lifeguards are on duty. But there’s a bit of a neglected feeling.
I suspect he hasn’t thought it through to what his favorite beach would be like if it was converted into a tourist destination or if luxury highrises were built along the boardwalk. But I do admire—and share—the pride he feels for the Rockaways which is truly a transit-oriented beach destination (accessible by both subway and city bus).
According to an interesting New York Times story, New York’s Next Frontier: The Waterfront, some smart developers, real estate lawyers and city officials have made the same observations. And they’re making plans now so that when the economy improves, they’ll have everything in place at the beginning of the next cycle.
Expect to hear more about waterfront development in all five boroughs of New York. Over the next decade, a massive number of multi-housing units could be added to the market… rentals and condos… affordable and luxury. It’s all mapped out in Vision 2020, a comprehensive waterfront plan recently unveiled by Mayor Michael Bloomberg. There are more than 500 proposals—from how to increase water access for sports enthusiasts to how protecting the city from rising sea levels.