Affiliation:
1. Milano Graduate School, New School University, 72 Fifth Avenue, New York, NY 10011, USA,
Abstract
Over the past 10-15 years, many cities in the US have experienced a form of development unknown since World War II-middle-income housing in their downtown cores. Such downtown housing initiatives assume that functional interdependence among different property sectors-office, residential, retail, entertainment-will ensue and that the resultant, co-ordinated investments will produce a lively and attractive downtown environment. This article explores the impediments to this synergism using a perspective that emphasises the 'thicknesses' of property markets; that is, the social, institutional and place-specific qualities of real estate investment. New York City's lower Manhattan revitalisation plan, designed to subsidise office conversions, is used as an example.
Subject
Urban Studies,Environmental Science (miscellaneous)
Cited by
60 articles.
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