Quote:
Originally Posted by NYguy
That can be said for many of New York's neighborhoods where development has taken off. But it has less to do with Guliani (or more likely, Bloomberg) than the changing of the times.
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not sure I agree. I think establishment of the rule of law is the very baseline which an economy can be developed. You establish rule of law more people want to live there. The more people who want to live there increase the value of a certain area. As the value increases more affluent people desire to be there. As this cycle continues and property values increase at some point it becomes economical to undertake massive vertical projects.
There are other factors, but in this case I believe re-establishment of rule of law was the catalyst. The area already had massive advantages (like being on Manhattan).