Inwood Re-Zoning of Sherman Creek and Inwood

Remember, over 90% of the housing above 155th Street in Manhattan is rent stabilized.  In a wage shrinking world — this is the only thing that is keeping residents (mostly first generation immigrants from the Dominican Republich have at preventing displacement.

The rezoning of the Sherman Creek waterfront and the core area of Inwood began at the behest of the Economic Development Corporation in 2001. Details are found on the EDC website here and on the DCP website here. The reasons for this particular initiative may be generalized to three political influences.

First, New York City’s bid for the 2012 Olympic games and beyond stimulated a massive search for “sites”. Failing this, (even though it was a valiant effort) the work retained its second value as a strategy within an overall plan to fuflill the Bloomberg administration’s interest in the production of affordable housing, largely thorugh tax expenditure investments and zoning changes.

Changing the zoning and adding in some bonus floor area minimizes the use of the city’s expense and capital budget to the greatest degree possible. The Japanese call this “minkatsu” to “stimulate the private sector” as a partner.

Third and ultimately, a local interest in wealth creation is satisfied. It is a small but influential group of investors with substantial land holdings in this area that need the boost in land value.

This entire effort will begin to play out in the Fall of 2007 and its effects might begin to show almost immediately, by the time it gets to the City Council 120 ULURP days later.

The area is predominately composed of immigrants of the Dominican Republic who are steeped in family but stilledgy poor. The area is also dominated by a high grade stock of art deco architecture perched for the most part on a hill with a median household income that dwarfs that of the residents just below.

This community of the hill and the valley of Inwood is just north and east of the Inwood Hill “wilderness” the last of the original growth of Manhattan and only known home of the Golden Eagle in New York City.

This for example, is just the begininning:

Highbridge Park Trails Grand Opening Festival May 19, 2007 mountainbikes, mountain, bikers, trails Mountain Bikes … years of lobbying and meetings, and a year and a half of actual trail design and … Urban Trailblazers. The New York City Mountain Bikers Meetup Group

First Meeting: Sat, May 19 at 10:00am EDT New York, NY

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