Hudson Yards, the new Manhattan mega-development, has become the poster child for urban projects that critics say harm the middle class. Is it time to change course?
.videocontent{position:relative;padding-bottom:56.25%}.tvplayer > div {position:absolute;top:0;left:0;width:100%;height:100%} U.S. The reviews for the gleaming, ultra-posh New York development were bad. Police Academy 6 bad.
“We saw that what New York needed was a new neighborhood, where you could live, work and play, that would attract the best and the brightest,” Ross said at the opening day ceremony in March. There are signs of major pushback to this kind of development from more than just architecture critics. A coalition of activists, residents and politicians, including Representative Alexandria Ocasio-Cortez, deep-sixed Amazon’s dream of a facility occupying 4 million square feet on the East River in Queens. They and other opponents of the project argued that its promised economic benefits—some 25,000 jobs, for instance—weren’t enough to outweigh the nearly $3 billion in tax subsidies.
It’s an approach articulated by Florida in his hugely influential 2002 book, The Rise of the Creative Class. The popular theory held that cities could inject vibrancy into their downtown area by courting members of what Florida called the “creative class,” a mix of artists, intellectuals and college-educated millennials. Their arrival, he argued, would attract better employers, lead to the inevitable creation of new jobs and boost tax revenues.
The pace and ferocity of the metamorphosis shocked Florida and other urban development experts. “If you look back to when I wrote [the 2002 book],” Florida tells Newsweek, “no one would have imagined this—no one. Not a single mayor, not a single urban pundit, not a single urban economist…. And it has happened in a flash.”
Other measures include discouraging the 1 percenters from buying inner-city land by placing a tax on homes that aren’t the buyer’s primary residence. Similar taxes are on the books in London, Paris and Vancouver, British Columbia.
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