Money, Power, Politics, by Joyce Purnick: on Corporations


Mike Bloomberg: Rezoning old manufacturing sites led to construction boom

Bloomberg oversaw the most massive rezoning in more than 40 years, recognizing the city's changing face, especially the diminished role of its once thriving manufacturing base. That left acres of industrial moonscapes to be reclaimed once the city government decreed that housing, office buildings, hotels and stores could rise where factories and plants once stood. The new zoning did not guarantee new building, it only cleared a path for more and more building during and after what had already become the biggest construction boom in 30 years. The cranes worked overtime until the Wall Street meltdown and recession of 2008.

The new rules also restrained some development in congested residential neighborhoods and provided for some manufacturing and affordable housing at various sites, though nowhere near enough to satisfy critics who argue that too many of Bloomberg's plans favor the wealthy.

Source: Bloomberg: Money, Power, Politics, by J.Purnick, p.207-208 Sep 28, 2010

  • The above quotations are from Mike Bloomberg:
    Money, Power, Politics,
    by Joyce Purnick.
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