Today’s post article on stalled development sites has gotten a lot of play, but there really is no “news” there. Its pretty simple – Brooklyn was the center of speculative development (some of it ill-conceived) in New York City. Williamsburg/Greenpoint was the center of speculative development (some of it ill-conceived) in Brooklyn.
So guess which borough has the most stalled development sites?
Guess which neighborhoods have the most stalled development sites in that borough?
Want real news? A huge percentage of development sites continue to be active, despite the miserable economy. Want man bites dog news? Since January 2009, a number of new developments have broken ground and are still going up.
I have no idea why all these projects are moving forward, but they are.