Crown Heights/Bedstuy - Rental Development needed?

All, I am noticing a tail of two worlds...and an emerging third. There is obviously a renaissance occurring in Brooklyn. Current rental inventory in gentrified neighborhoods have it all….from the walk-ups to the prewar elevatored buildings to the newly constructed. In submarkets that are arguably no longer up and coming like Crown Heights and Bedstuy, there are NO new developments currently on... [more]

All, I am noticing a tail of two worlds...and an emerging third. There is obviously a renaissance occurring in Brooklyn. Current rental inventory in gentrified neighborhoods have it all….from the walk-ups to the prewar elevatored buildings to the newly constructed. In submarkets that are arguably no longer up and coming like Crown Heights and Bedstuy, there are NO new developments currently on line (only a few). However, there is a plethora of new developments coming on line in the next two years. My question & concern is two fold. You have developers snatching up vacant land due to tax abatement programs (because you can buy the land for a price point that works) and they are developing much needed affordable housing (while creating jobs) that is well designed and going to be well managed. The question I have is, do we need more new construction that is tasteful but not high end in Crown Heights and “lower” Bedstuy? Or do we find a fusion of both in these emerging (and in some pockets gentrified) neighborhoods? Sincerely, Kind & Thoughtful Developer [less]