Retail businesses set up shop in Bloomberg’s industrial zones

TRD New York /
Oct.October 28, 2009 05:19 PM

The industrial zones set aside by Mayor Michael Bloomberg five years ago are having trouble holding onto their boundaries as hotels, superstores, and other retail businesses move into the areas. A recent New York Industrial Retention Network report says that although residential conversion is prohibited in 16 areas in the outer boroughs, as per the Bloomberg administration’s policy, non-industrial businesses are setting up shop there anyway. The report says 39 sites within the zones are non-industrial, including two bowling alleys, an art gallery, and a number of bars in Williamsburg; and a shopping center in East Greenpoint. The industrial zoning was intended to keep real estate prices low, but industrial rents are up to $18 per square foot, which is double the price in 2000. Industrial advocates say companies are being driven out of the city in the absence of zoning enforcement, while a spokesperson for the city’s Department of Small Business Services said some commercial development can be “healthy” for industrial zones.


Related Articles

arrow_forward_ios
Michael Bloomberg (Credit: Getty Images, iStock)

Love, hate, and real estate: Bloomberg’s record may polarize voters

Donald Trump and Michael Bloomberg (Credit: Getty Images)

Bloomberg v. Trump: Real estate edition

Donald Trump and Michael Bloomberg (Credit: Getty Images)

Bloomberg v. Trump: Real estate edition

Bloomberg LP renews Grand Central offices

Bloomberg LP renews Grand Central offices

“We created money out of air”: Doctoroff talks High Line, Hudson Yards

“We created money out of air”: Doctoroff talks High Line, Hudson Yards

WATCH: NYC real estate’s week in numbers

WATCH: NYC real estate’s week in numbers

Michael Bloomberg injects $75M into the Shed at Hudson Yards

Michael Bloomberg injects $75M into the Shed at Hudson Yards

Hamptons Cheat Sheet: Lawsuit claims Michael Bloomberg’s staff turned his $20M home into a sex mansion, you could be Eli Manning’s neighbor for $19M … & more

Hamptons Cheat Sheet: Lawsuit claims Michael Bloomberg’s staff turned his $20M home into a sex mansion, you could be Eli Manning’s neighbor for $19M … & more

arrow_forward_ios
Loading...