What the Pandemic Has Done to New Development in NYC

The pandemic paused residential construction and stalled sales. Now developers in Long Island City and Greenpoint are changing apartment floor plans to make way for home offices and decontamination rooms, and rethinking amenities that no longer make sense in close quarters. To spur sales, new discounts and promotions, like rent-to-own programs more commonly seen after the 2008 recession, are now cropping up.

And after a monthslong reprieve from endless construction, the pause has also given new life to community concerns about what should be built, and for whom, considering not only the new economic reality, but also climate change concerns around the vulnerable coastline. Looks like apartment living in the city and boroughs is changing for better!

Via: New York Times

Link to Full Article: https://www.nytimes.com/2020/07/03/realestate/long-island-city-greenpoint-new-development.html