Monday, January 08, 2007

Development in Brooklyn

In an interesting piece in the NY Sun, the paper focuses on the rising level of development along Fourth Avenue in an area that abuts Park Slope. The development is characterized by a large number of food and drink retailers who are being spurred, not only by the gentrification of the Slope, but also by the prospects of Atlantic Yards.

The situation in the avenue is similar to that of Amsterdam Avenue on the West Side in the 80's, where shops were boarded up and stores were going out of business. Once the AY project really begins to take hold it will inevitably boost, as we have predicted, the area's small neighborhood businesses and enhance property values all over the Slope's southern boundaries.