How Urban Real Estate Development Is Helping NYC Neighborhoods

The real estate platform is no doubt transforming the urban areas of New York City into breathtaking neighborhoods. Some few years ago, some neighborhoods in New York City were havens for drug trafficking, murder, and home to some of the most poverty-stricken individuals in New York. However, thanks to real estate development companies such as Joe Sitt’s Thor Equities, Spandrel Development, and Forester City Partner, the overall appearance of New York City has considerably changed.
Spandrel Development is involved in the development of residential and resort properties, while Forester City Partner is involved in the development of residential and industrial properties most commonly the transportation sector in the city. Some neighborhoods which were once poverty-stricken and drug infested have now being transformed into modern vicinities with beautiful apartments surrounded by lots of green spaces. In the long run, the quality of life of New York City residents has improved drastically.

Another positive impact that has been witnessed by the sprouting of real estate developments in the New York has been the fact that the tax incentive of the city has increased. With increased taxes, the overall livelihood of the New York residents has improved. For instance, better policing, improvement of infrastructure, better schools, and hospitals have all been made possible thanks to the development put up by the real estate agents.

Urban areas which were once termed as hotspots for drug traffickers and other petty crimes have been transformed into bustling streetscapes with rollicking nightclubs, quaint restaurants, and high-end boutiques. A perfect example can be seen in the Lower East Side and the Bronx.

Life in New York City has changed thanks to the vibrant nature of the city. For instance, more parks, concert halls, and movie theatres have been developed. Thanks to these facilities, more residents have had better choices to make when it comes to buying or renting condominiums, apartments, and modern townhouses.

Thanks to real estate development firms, empty nesters have decreased, and Millennials have had the opportunity to enjoy a more urbanized life coupled up by convenience and security. Apart from this, real estate developers have ensured that the people who live in these areas can easily access basic amenities and luxuries while at the same time carrying out their activities smoothly.

Various celebrities have made New York City their home and point of investment. Some of these celebrities are such as Bruce Willis, Mike Meyers, Bon Jovi, Jay Z, and 50 Cent. These celebrities have invested largely in the city, and it is not difficult to see why.

Categories: Economy

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