New York City Mayor Bill DeBlasio recently held his first town hall meeting despite having been in office for almost two years. Regardless, DeBlasio took to Washington Heights – a place with more than 53,000 rent stabilized apartments – to discuss housing and tenant issues.
“The mayor touted his plan to provide free lawyers for city residents with landlord issues, his initiative to build and preserve 200,000 units of affordable housing over the next decade, and the first rent freeze in the history of the Rent Guidelines Board,” DNAinfo says.
DeBlasio told the crowd in Washington Heights: “The people demand affordable housing. It is now required in this city, and that is going to change things for the long run. You have the full weight of City Hall behind you.”
It is hard to predict how current government policies will affect the future housing market, but it is certainly clear that those effects will be felt in Washington Heights one way or another.
Commercial Development in Washington Heights.
Washington Heights, even though it is home to the well-known Columbia University Medical Center, was severely deficient in its ability to house either potential doctors coming in for interviews, patients and their families, and/or anyone else simply visiting the area.
That problem, however, was partially alleviated earlier this year when two new hotels opened up in Washington Heights. The Edge Hotel, located at 514 West 168th Street, is just a few blocks east of the medical center. Hotel Cliff, meanwhile, is 12 blocks north at 505 West 181st Street.
There are also major renovations going on at the George Washington Bridge Bus Terminal.
The $183 million redevelopment of the bus terminal, which began in late 2013 and is expected to finish late this year, will include a host of chain tenants like The Gap, Buffalo Wild Wings, Blink Fitness and Marshalls.
Once completed, it will feature 90,000 square feet of new retail space, with Marshalls occupying most of the second floor.
But the project has not been without its fair share of issues. Council Ydanis Rodriguez has said that the developers have not done enough to cooperate with the neighborhood, arguing that those in charge of the project should be doing more to include businesses and residents from Washington Heights.
Residential Developments in Washington Heights
Washington Heights, despite having a lot fewer residential projects in progress compared to other neighborhoods in New York City, is not without its share of development. There are three new condo developments in the works right now – one of which is a new conversion, one that is a new construction, and one that is pre-construction. Among the three are:
- 456 West 167th Street – eight floors/49 units/$664 per square foot
- 156-08 Riverside Drive – six floors/66 units/$610 per square foot
Washington Heights Demographics
According to Realtor.com, Washington Heights has a population of a little more than 164,000. The majority of those residents are between 20-59 years old, and their median household income is just shy of $48,000.
Moreover, education levels vary widely. Approximately 58,000 of those who live in Washington Heights have some type of college degree, whether it be a two-year, four-year, or graduate degree. On the other hand, Washington Heights is home to roughly 68,000 people who do not even have a high school diploma.
NYC Neighborhood Report: Washington Heights cont…
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