The New York MTA is planning to shut down the L Train from Brooklyn to Manhattan in 2019, and renters in the area no longer find the area along the route as attractive.
"Since the L train shutdown was announced in early 2016 there has been much hand wringing over what might happen to real estate along the affected route," according to an article by John Surico. "But for close to two years, not much happened. The area’s already-inflated prices just continued to grow and grow, as they have largely done citywide."
Now, however, come signs that the L Train's closure has begun to impact housing prices.
According to findings from StreetEasy, a real estate company that crunched its own listings data over the last two years, the number of apartments available in Williamsburg has gone up by a quarter, outpacing demand—a telling sign that many residents have started to relocate. Nearly a third of apartments have received a price cut from landlords, and another 18 percent have seen concessions offered in the form of free rent. And it’s happening across the board, not just for the ultra-lux condos that have come to define the area.
After sharing those findings from the StreetEasy study, Surico sits down for an interview with Nancy Wu, StreetEasy economic data analyst, to discuss the study and its findings in more detail.
FULL STORY: Rent in Brooklyn Is Finally Kind of Sort of Going Down a Little Thanks to the L Train Shutdown
First Weekend of L Train Slowdown Could Have Been Worse
The long awaited repair work on the L Train between Brooklyn and Manhattan launched over the weekend.
How the New L Train Repair Plan Will Work
After the initial shock of Governor Andrew Cuomo's cancellation of the planned L Train closure subsided, analysis and commentary rolled in.
Breaking: Gov. Cuomo Cancels L Train Closure
Surprise, shocking news from New York City, as Governor Andrew Cuomo steps in at the 11th hour to change course on the highly anticipated (and dreaded) L Train closure scheduled to begin later this year.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
SoCal Leaders Debate Moving Coastal Rail Line
Train tracks running along the Pacific Ocean are in danger from sea level rise, but residents are divided on how to fix the problem.
Are Mobility Hubs Child-Friendly?
‘Mobility hubs’ aim to make urban travel easier by connecting travel modes. Adding more services could make them more accessible and useful to women and families.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research