logo
One of America's most iconic beach towns welcomes 1,100 new homes

One of America's most iconic beach towns welcomes 1,100 new homes

Daily Mail​2 days ago

Affordable housing units are set to break ground close to one of America's most iconic beaches.
New York City officials are touting a new housing project just blocks away from Coney Island's boardwalk entrances.
The neighborhood, which hangs on the southern tip of Brooklyn, offers a dose of chaos and nostalgia.
A scent of fried dough hangs in the air, wooden roller coasters rattle overhead, and sunburned crowds shuffle between jam-packed beaches and hot dog stands.
But not everyone is excited about the development.
'People say, "Don't get a heart attack on Fourth of July because it'll take two hours for ambulance to come to your house,"' Angela Kravtchenko, a vice chair of the local land use committee, told Gothamist.
Nevertheless, city officials are touting the upcoming construction site as a win for affordability in a city battling a housing price crisis.
The development will include 1,100 units of housing, including 720 affordable apartments.
In one building, the average price for a one-bedroom will be around $1,800 a month, a steep discount compared to the rest of Brooklyn.
In July, new renters in the borough signed leases that pushed the median rent over $2,800 a month for a 545-square-foot apartment.
Nearby Coney Island homes are even pricier, with average monthly rent hovering above $3,200.
Coney Island's newest housing is part of Mayor Eric Adams' sweeping plan to rewire New York's outdated zoning laws called 'City of Yes.'
The city's top politician has been sifting through bureaucratic red tape to build housing, open small businesses, and install green tech like solar panels.
For years, housing advocates have warned that demand keeps climbing while new apartment construction lags behind.
The Adams administration says it's answering that call — with what it touts as two straight years of record-breaking homebuilding.
Still, not everyone's convinced.
The boardwalk is another popular tourist destination - nearby residents worry that increasing population density and tourism could be a toxic mix
Drivers worry that the new development will clog streets in a neighborhood already buckling under traffic.
It's the kind of issue the city has tried to tackle with tolling initiatives — most famously, congestion pricing in lower Manhattan.
That plan slaps a $9 toll on cars entering below Central Park during peak hours. Officials say it's raising funds for public transit, reducing pollution, and clearing a path for emergency vehicles.
But the system doesn't extend to Brooklyn.
Also, environmental activists are worried that the area is increasingly at risk for sea-level rise.
Hofstra University conducted a land survey that found most of Coney Island is expected to flood more frequently in the coming decade.
Despite the backlash, the Mayor's office is charging ahead with the Coney Island project. Housing projects like this one are expected to feature prominently in Adams' re-election pitch.
In the meantime, hot dog–loving future residents might want to prep their stomachs.
They could soon be living steps away from Nathan's — and might compete in the chain's famous hot dog eating contest.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gold rebounds from over one-month low on weaker dollar
Gold rebounds from over one-month low on weaker dollar

Reuters

time38 minutes ago

  • Reuters

Gold rebounds from over one-month low on weaker dollar

June 30 (Reuters) - Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.2% at $3,293.30. "There is less of a 'doom and gloom' outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets," KCM Trade Chief Market Analyst Tim Waterer said. Asian shares firmed, with Wall Street futures advancing, while U.S. dollar index (.DXY), opens new tab fell 0.2%. A lower dollar makes greenback-priced bullion less expensive. The U.S. and China have resolved issues surrounding shipments of rare earth minerals and magnets to the U.S., Treasury Secretary Scott Bessent said on Friday, adding, the Trump administration's various trade deals with other countries could be done by the September 1 Labor Day holiday. Meanwhile, U.S. President Donald Trump abruptly cut off trade talks with Canada on Friday over its tax targeting U.S. technology firms, saying that it was a "blatant attack" and he would set a new tariff rate on Canadian goods within a week. The Iran-Israel ceasefire after a 12-day conflict also appeared to be holding, further reducing safe-haven demand. "The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level," Waterer said. Stable geopolitical and economic conditions often reduce demand for gold as a safe-haven asset, while non-yielding bullion's appeal further wanes in a high-interest-rate environment. Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48.

ASL Strategic Value Fund targets Avadel board over Lumryz drug mismanagement, WSJ reports
ASL Strategic Value Fund targets Avadel board over Lumryz drug mismanagement, WSJ reports

Reuters

timean hour ago

  • Reuters

ASL Strategic Value Fund targets Avadel board over Lumryz drug mismanagement, WSJ reports

June 29 (Reuters) - ASL Strategic Value Fund plans to push shareholders of drugmaker Avadel Pharmaceuticals (AVDL.O), opens new tab to vote to remove the company's board, citing mismanagement in the launch of its flagship sleep disorder drug, the Wall Street Journal reported on Sunday. The fund, which holds shares worth about $15 million in Avadel, plans to publish an open letter arguing that the mismanagement in the launch of the drug called Lumryz resulted in the company missing out on hundreds of millions of dollars in revenue, the report said, citing a copy of the letter. The investment firm also reiterated a call to the Ireland-based drugmaker to hire an investment bank and explore alternatives including a sale, the report added. Reuters could not independently establish the veracity of the report. Avadel and ASL did not immediately respond to Reuters' requests for comment. Last year, the U.S. Food and Drug Administration approved Lumryz for children aged 7 years and older who presented with sudden muscle weakness, called cataplexy, or excessive daytime sleepiness, both symptoms of the sleep disorder called narcolepsy. Narcolepsy is a chronic neurological disorder that impacts the brain's ability to regulate sleep and wake cycles, with 70% of patients also experiencing cataplexy.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store