Publication Date: June 2002
Publisher: Furman Center for Real Estate
Author(s): Michael H Schill; Ingrid Gould Ellen; Amy Ellen Schwartz; Ioan Voicu
Research Area: Social conditions
Keywords: affordable housing; housing Prices; neighborhoods
This article examines the impact of New York City’s Ten-Year-Plan on the sale prices of homes in surrounding neighborhoods. Beginning in the mid-1980s, New York City invested $5.1 billion in constructing or rehabilitating over 180,000 units of housing in many of the city’s most distressed neighborhoods. One of the main purposes was to spurn neighborhood revitalization.