FOR IMMEDIATE RELEASE: Aug. 18, 2016
Cristian Salazar, 646-786-0898, [email protected]
Center for NYC Neighborhoods Launches Year-long Study of Homeowner Displacement in East New York and surrounding communities
Non-profit seeks to use qualitative and quantitative methods to understand displacement in East New York, Brownsville, Cypress Hills and Ocean Hill; study will seek to develop policy responses to counter negative effects of real estate speculation
NEW YORK, N.Y. – The Center for NYC Neighborhoods announced today the launch of a one-year effort to study the displacement of homeowners and their tenants in East New York, Brownsville, Cypress Hills and Ocean Hill. The purpose of the research initiative, funded with support from JP Morgan Chase & Co., is to better understand the displacement of homeowners from East New York and surrounding communities, using qualitative and quantitative methods, to develop effective policy responses.
“What we want to understand is how our neighborhoods are responding to the market forces that are reshaping communities,” said Christie Peale, Executive Director of the Center for NYC Neighborhoods. “We think neighborhoods are turning over more rapidly than we have ever been able to document, and this research project will give us insights into who is moving out, where they are going and how quickly this is happening. It will give us the closest thing to a real-time snapshot of neighborhood transformation as we can possibly get.”
Though they might not get the attention of Manhattan’s skyscraper corridors, New York City’s low-rise neighborhoods provide affordable housing and safe communities for millions of New Yorkers. Despite being neighborhoods of opportunity for many New Yorkers, these areas have been destabilized by the foreclosure crisis, persistently stagnant wages for working-class families, and a wave of speculative real estate activity. Furthermore, most renters in these communities do not benefit from the legal protections available to rent stabilized tenants in large, multifamily buildings.
As the City of New York pursues its plans to rezone 15 neighborhoods, many of them containing tens of thousands of 1-4 unit homes, the Center believes it is imperative to understand how market forces are shaping low-rise neighborhoods.
Through its research, the Center will engage homeowners and community leaders in identifying challenges and potential solutions; map existing resources for vulnerable homeowners and identify gaps; and develop policy recommendations based on findings.
The Center expects to publish a report on its findings by mid-2017.
About the Center for NYC Neighborhoods
The Center for NYC Neighborhoods promotes and protects affordable homeownership in New York so that middle- and working-class families are able to build strong, thriving communities. Established by public and private partners, the Center meets the diverse needs of homeowners throughout New York State by offering free, high quality housing services. Visit www.cnycn.org for more information.