Revolts and reopenings: Gateway cities look to reestablish themselves in the era of Covid-19

With nationwide protests, boarded up stores and the ongoing threat of Covid-19, the country’s top real estate markets are deep in crisis mode

TRD NATIONAL TRD ISSUE /
Jul.July 02, 2020 10:00 AM

George Floyd died in Minneapolis on May 25 after being pinned down by three police officers — one of whom kept his knee on Floyd’s neck for eight minutes and 46 seconds.

Footage of the brutal arrest sparked outrage across the county, setting off a wave of protests against police brutality and racism. Major cities such as New York and Los Angeles saw some of the most heated demonstrations.

The protests in some cases were accompanied by looting and violence, which prompted retailers in some cities to board up their storefronts just as cities began reopening from coronavirus shutdowns. It presented another challenge for gateway cities seeking to reestablish themselves as safe and desirable places to be in the era of Covid-19.

The social upheaval, which continues, carries huge implications for political leaders, police and the real estate industry, which has confronted its own record on diversity and its historically close relationship with law enforcement.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Clare Bronfman and 8517 Franklin Avenue (Patrick McMullan/Getty, Zillow)

Heiress and sex cult financier sues over Los Angeles infinity pool

Heiress and sex cult financier sues over Los Angeles infinity pool
From left: Zeus Living CEO Kulveer Taggar, Airbnb CEO Brian Chesky, Oyo founder Ritesh Agarwal and Lyric CEO Andrew Kitchell (Getty, iStock)

Airbnb banked on short-term rentals. Can it continue without them?

Airbnb banked on short-term rentals. Can it continue without them?
Backal Hospitality Group CEO Arthur Backal, 627 West 42nd Street and Moinian Group CEO Joseph Moinian (Images via Backal, Google Maps, Moinian)

Win for Moinian is bright spot for commercial landlords

Win for Moinian is bright spot for commercial landlords
Barry Sternlicht (Getty, iStock)

Starwood’s Barry Sternlicht predicts demand for hotels, retail will not return to pre-Covid levels “for awhile”

Starwood’s Barry Sternlicht predicts demand for hotels, retail will not return to pre-Covid levels “for awhile”
Quarters CEO Rui Barros and 251 DeKalb Avenue in Brooklyn (Credit: Linkedin and Google Maps)

“Schoolyard-style” dispute between landlord and co-living firm

“Schoolyard-style” dispute between landlord and co-living firm
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...