Elegran Edge
The Real Estate Blog

What is Elegran Edge? It’s the blog where we bring together the biggest and best stories from our neighborhood blogs and agent blogs. If it’s happening in Manhattan real estate, you can find it here.

Articles about "Bloomberg administration"

  • Alternative Enforcement Program: Manhattan's Safety Net By Justin Spees | February 22, 2012

    While high-end Manhattan residential real estate has been having a banner year, there are still myriad apartments in the city that are on the low end of the spectrum. In November 2007 the Bloomberg administration launched a program designed to address those buildings. It created the Alternative Enforcement Program (AEP), an enforcement body of the Department of Housing Preservation and Development, that would inspect residential buildings throughout New York's five boroughs and seek out violations it deemed either class B, “hazardous,”, or class C, “immediately hazardous." The 200 worst buildings—buildings with the most or most extreme violations—were then given 4 months to get themselves up to code, at which point the city would fine them periodically until they repaired themselves up to the department’s standards.

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  • Green Building Codes Enhance City's Sustainability By Gabrielle Hughes | February 06, 2012

    Despite the fondness many New Yorkers have for this year’s curiously warm winter, government officials are pushing forward with initiatives to make city buildings more environmentally friendly.

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  • Five Boro Bike Tour Deals With Rapidly Increasing Participation By Justin Spees | January 17, 2012

    Today kicked off the first day of the raffle for TD Five Boro Bike Tour, the annual biking event in New York City that bills itself as “America’s largest cycling event.” The tour takes place on May 6th, when over 32,000 cyclers will bike 42 miles across all five boroughs of New York. The raffle will stay open until February 7th, and the 32,000 selected riders will be notified by early March.

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  • Reality Checking the Claim that New York is the Next Silicon Valley By Justin Spees | January 12, 2012

    In July New York Mayor Michael Bloomberg announced his intention to award $100 million for infrastructure, and real estate on Roosevelt Island for practically nothing, to any university that would use the land to build a “world-class” science and engineering school. The aim was, at least in part, to make New York City the next Silicon Valley. Bloomberg said his “ultimate goal” was about “reclaiming our title as the world capital of technological innovation.” The mayor hoped that a tech school in New York would rival Stanford and MIT, where each year graduating students go on to start successful technology companies.

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  • The Sustainable Operations Summit Highlights New York's Green Strides By Justin Spees | January 04, 2012

    The Hilton New York at 1335 Avenue of the Americas in the center of Midtown is about to see an influx of environmental activists. The hotel has been selected to host the 2012 Sustainable Operations Summit that takes place between the 17th and 19th of April. The Summit is an annual invitation-only meeting that gathers environmentalists and corporate leaders together to discuss how corporations and the public sector can increase energy efficiency. The event organizers selected Manhattan this year in large part because of green energy initiatives Michael Bloomberg has taken as mayor.

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  • Occupy Wall Street vs. Trinity Church By Justin Spees | December 20, 2011

    Ever since Occupy Wall Street was evicted last month, the movement has been in recession. Shortly after, Occupy movements in other cities were shut down. The Occupy Our Homes movement did little to rejuvenate the movement, and while the Occupy media team insisted the intellectual goal was steadfast, Zucotti Park stayed empty. The movement knows it needs a new location, so on December 10th it began appealing to Trinity Church to allow them to occupy its adjacent park in Soho, between Canal and Grand Street and Varick Street and Sixth Avenue.

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  • Propping up the Real Estate Market One Green Card at a Time By Justin Spees | December 12, 2011

    The United States has looked increasingly towards an unlikely source to rejuvenate the flagging real estate market: foreign buyers. Here in Manhattan, we can thank the international community for a sizeable amount of our housing market’s recovery. Foreign investors in the New York borough make up 30% of all property owners. The banking giant HSBC recently increased the size of the loans its willing to give foreign investors for property in New York, as a way to spur investment. And the federal government has come up with ideas of its own. The Immigrant Investor Program, or EB-5, is  one such idea. The program fast tracks green card obtainment for immigrants who are willing to invest at least $500,000 into the American economy.  It was initially conceived in 1990, but its been updated in recent years to make it as attractive as possible to wealthy investors.

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  • Forget the Olympics: The Near-Downfall of Hudson Yards By Justin Spees | November 28, 2011

    For decades the Far West Side - the space west of Eighth Avenue between 30th and 43rd Streets - has been a stagnant and underdeveloped area inhabited by old factories and parking lots. But over the past few years there’s been a renaissance of development in the area. Manhattan's Far West Side is currently home to 15 residential towers and 12 hotels built since 2005, and there are tentative plans to develop a 51-story office tower in the area, complete with a Coach store. What’s more, New York City is two-thirds of the way done with an L train extension that will bring subway service to 34th St. and 11th Ave., and next year it plans to begin construction on a tree-lined boulevard between 10th and 11th Avenue.  But this booming development might not have happened at all if Mayor Bloomberg's initial plans had been approved. Ladies and gentlemen, New York City would like to present to you its newest business district, Hudson Yards, the inadvertent result of Michael Bloomberg’s failed 2012 Olympics bid.

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  • Bad News for the World Trade Center 9/11 Museum By Justin Spees | November 21, 2011

    When the World Trade Center Memorial opened to coincide with the 10th anniversary of September 11th, it seemed to a lot of people like the first sign of progress on a rebuilding effort that had stalled in bureaucratic purgatory since it began. Not the case. The Wall Street Journal is reporting that the bureaucratic agencies tasked with putting the memorial together agreed to set aside a disagreement they were having over money in order to get the memorial done in time for the 10-year anniversary. Now that they’re finished, it’s back to squabbling.

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  • The Beautification of Washington Heights By Adam Rothstein | August 15, 2011

    After years of complaining, residents of Manhattan’s Washington Heights have finally convinced lawmakers to step up their game concerning the removal of litter and graffiti from the streets of this historic NYC neighborhood. As explained in a DNAinfo article, several different groups and politicians have made the clean-up of Upper Manhattan a priority. City Councilman Robert Jackson, for example, has officially allocated $25,000 dollars toward the effort, with the goal to “keep all storefronts, roll-down gates, sidewalls and street furniture graffiti-free.” Jackson’s office has teamed up with several other organizations, including Community Boards 9 and 12, Washington Heights-Inwood Coalition, Hamilton Heights Business Assocation, the Bodega Association of the United States, and the Community League of the Heights to name a few.

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