Times Real Estate section returns to Prospect Heights, finds not blight but "a place that a lot of people want to be"
In 1999, the headline was A Diverse Neighborhood Spruces Up in a Turnaround, while in 2005 it was A Neighborhood Comes Into Its Own.
While Prospect Heights is more economically diverse than, say, neighboring Park Slope, thanks to a larger number of rent-regulated buildings, you wouldn't get that from the latest article. (It does quote a resident as saying the drug dealers are long gone.)
The money quote, as in previous iterations of the feature, casts doubt on the state's designation of the Atlantic Yards site as blighted:
As Michael Ettelson, an agent for Prudential Douglas Elliman Real Estate, put it, Prospect Heights “went from a neighborhood many people hadn’t heard of to a place that a lot of people want to be.”The AY mention
The Times reports:
Another big change is the Atlantic Yards development, Bruce C. Ratner’s 22-acre residential and commercial project, which includes the Barclays Center and has many vocal critics. So far, several brokers said, the project has not substantially affected real estate prices. The arena is scheduled to open in September 2012.Well, there's likely a tension between wanting a scarce and valuable resource--a row house in a desirable neighborhood near transit--and coping with the increase in traffic on select streets.
Atlantic Yards, Mr. Ettelson said, was a bigger concern among prospective buyers four or five years ago, when all people had to go on about the development was drawings and the like. Now, he said, “they see a stadium going up, and people are not necessarily positive about it, but they feel more confident.”
I'd suggest that "prospective buyers" should not be chosen as the primary constituency for judging the impact of Atlantic Yards. What about the people who live there?
Atlantic Yards, the Times notes, did spur the formation of the Prospect Heights Neighborhood Development Council, which helped get the Landmarks Preservation Commission to designate a large chunk of the neighborhood as a historic district.
Right next to the arena parking lot. Graphic by Tracy Collins.