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The new Mt Eden

Author

Listed:
  • Lamberg, Carol

    (180 West 58 Street, New York, NY 10019, USA)

Abstract

Community development works with great financing and competent people in charge. We got it right in the West Bronx. But it was not easy. In 1987 14 large buildings, originally constructed in the 1930s were a scene of serious blight. Drug dealers and dangerous-looking dogs provided the neighbourhood street life. The Mayor and Governor decided to do something. Today, in 2015, the buildings look clean and are in excellent repair. Neighbours walk by safely. There is a long waiting list for the apartments. It is hard to believe the before and after photographs. In 1987 Settlement Housing Fund, a non-profit organisation in New York City, was chosen by the local government through a competitive process as owner of these 14 newly renovated buildings, providing 893 apartments. Because of favourable financing, rental income was used to run the buildings meticulously and to create educational and recreational programmes for the neighbourhood residents. Every floor of every building was economically integrated with tenants whose incomes ranged from public assistance levels to middle income. Most people agree that this was a great public investment. This development could be replicated.

Suggested Citation

  • Lamberg, Carol, 2015. "The new Mt Eden," Journal of Urban Regeneration and Renewal, Henry Stewart Publications, vol. 9(1), pages 25-34, October.
    • Handle: RePEc:aza:jurr00:y:2015:v:9:i:1:p:25-34
    as

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    More about this item

    Keywords

    no debt; good management; community programmes;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z33 - Other Special Topics - - Tourism Economics - - - Marketing and Finance

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