New Jersey has been losing hospitals for decades, as 26 have closed in a dozen years. Now, a few developers see new potential in the vacant buildings: turn them into medical malls.
The new use brings jobs, tax revenue and health care to these communities, but not necessarily the healthcare the community actually needs, as I reported today in the New York Times.
From how to get the neighbor to shovel his walk to how to get the city to do something about it, the questions Ask Real Estate received this week made one thing clear: Winter has worn out its welcome.
The New York Times had some seriously humble beginnings — in a forgettable brownstone on Nassau Street that eventually housed a McDonald’s. But there was no love lost when it was unceremoniously demolished seven years ago. (“Would you put a plaque on a McDonald’s saying this was the home of The New York Times?” wondered Simeon Bankoff, the executive director of Historic Districts Council. “I don’t know.”) In December it re-emerged as a luxury rental tower.
As part of my story about New Yorkers who grew up in affordable housing, the New York Times produced a video that delves a little deeper into the lives of these young housing heirs. Check it out here.
Imagine life in a three bedroom apartment that cost less than a grand. Or buying a one-bedroom on the Lower East Side for $2,000. Well, now imagine growing up in one of those apartments. Think how hard you’d try to hold onto the only home you’ve ever known. And how much everyone else would resent you. As I reported in the New York Times this weekend, these are the lucky ducks. The ones who have spent their lives trying to hold onto their treasured homes.
Americans might have a newfound love of the walkable, downtown lifestyle, but they aren’t going for it at this luxury development in Princeton. With prices set at a premium, sales have been lackluster despite the longterm trend, as I reported in the New York Times today.