Bloomberg to Announce Mega-Redevelopment of NYC’s Lower East Side

The planned “Essex Crossing” complex by SHoP and . Image Courtesy of SHoP Architects

After decades of contention between residents and politicians, the Bloomberg administration will announce on Wednesday plans of constructing a six-acre complex by SHoP and Beyer Blinder Belle Architects over a ten year period. Nine vacant lots in New York City’s Lower East Side will be erected into a mega-development of retail, office, entertainment, cultural and housing units. The complex will be located in rapidly gentrifying neighborhood, once home to working-class Italians, Jews, Puerto Ricans and Ukrainians, and has struggled to preserve against an encroaching luxury market. In response, developers have collaborated with local community groups agreeing that half of the projected 1,000 apartments will be for low-, moderate-, and middle-income families.

However, is this enough to sustain a balance of varying incomes?