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The Jerome Avenue Rezoning: What to Expect in the Weeks Ahead

1 Comment

  • Rick
    Posted December 11, 2017 at 6:43 pm

    This is a farce. They are rushing to build more subsidized housing at the expense of existing businesses. Why do we need more Subsidized housing, and of all places, who thinks we need more in the Bronx? This article talks about creating 1,000 jobs, what about the 1,000’s that will be displaced. The people that get these subsidized apartments will never get jobs because they are knocking down all the building, and forcing out businesses that provide the types of jobs that would, and d,o employ these people. Can we stop being so politically correct as to pretend that these future tenants are going to work on wall street or in mid-town. These people work in garages, warehouses, fabricators- all business being closed to build R-7 apartments.
    Years ago they determined that building giant “projects” was a bad idea because they incited crime and further poverty, so the practice stopped for 3 decades. De Blasio is now turning the entire Bronx into a mega-Project. Nobody really believes that the we are going to fill new office buildings full of upwardly mobile young professionals on Jerome Ave., do they? I hope not. There are not, and never will be a meaningful number of office jobs in the Bronx! Try to rent 2nd floor office space in the Bronx right now. Unless you are next door to a court house, you can’t give it away.
    Don’t forget, the economy is about as strong as it is likely to get. Things are pretty good. What happens when things go south? Who is going to pay for the “entitlements” that these 10,000’s of new subsidized residents are going to be collecting. When the economy slows, taxes decrease. Where will the money come from. Can’t keep stealing it from the rich. They already pay more than their share. Yes, I said it! More then there share! A “rich” NYC landlord pays 60-75% of its Profits to the government! The first 25% of gross income in real estate goes to PROPERTY TAXES! Then add to that the 35% Fed. income tax and another 10% in State income tax and finally, god help you if you live IN NYC and pay even more local tax!
    Speaking of the rich, who do you really think benefits from this rezoning? Existing Landlords will be selling their $1,000,000 garages for $2,000,000+ to developers. Developers will build $4,000,000 apartment buildings and sell them to the City for $6,000,000.
    Finally, more dumb thinking. Why pick Jerome Ave to re-develop? Because the train is there to move people to Manhattan. As stated above, most of these new residents are NOT going to commute to white collar jobs in Manhattan. The El makes Jerome Ave a dark, dingy, dangerous road to live or walk on as it is now. Once they place 6 story buildings on either side for 40 blocks and quadruple the population density – it will be a death trap, and absolutely dark and disgusting. Just a miserable place to live. How about parking? It stinks their now. What about when NO parking garages are permitted in the new residential zones and there are 1,000’s of more cars owned by the 1,000’s on new residents. Again, do we really think these new “up scale” residents the City tells us are moving in will not have cars, simply because the train is there? I don’t think so!
    This is a mistake on so many levels, it boggles the mind. In 10 years, when the economy has slowed and NYC is circling the drain toward bankruptcy, idiots like De blasio will simply say “OOps, who could have seen this coming”.

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