Quote:
Originally Posted by babybackribs2314
I think one of the most significant things this tower portends is the transformation of the neighborhood from commercial to residential. Until the flooding risks can be completely mitigated--which won't be for decades, if ever--it will be impossible for firms to keep offices in the area.
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This area has been slowly transitioning from more commercial to more residential for decades now, but I don't think Sandy is a major factor.
Commercial rents are higher in other parts of the city, which isn't really related to potential flooding. The Meatpacking district has sky-high commercial rents and had some flooding, for example. There's no difference in relative flood risk.
And the issues related to Sandy mostly amount to moving sensitive equipment well above sea level. It's an expensive and time-consuming fix, but not particularly challenging.