Markets Tax Credits: Issues and Opportunities (PDF
Center, April 2005
The New Markets
Tax Credit (NMTC) is the largest new federal subsidy
for economic development in depressed areas created
in the past thirty years. This report explores how NMTC
works and provides some insight into the program, early
in its implementation. It includes case studies of ten
NMTC deals from around the country, highlighting projects
where federal subsidies are making a real difference
in low-income areas.
Preliminary Planning Analysis of the Brooklyn Atlantic
Yards Project (PDF format)
Center, March 2005
Brooklyn Atlantic Yards (BAY) project, a large-scale
development featuring a 19,000 seat arena, as well as
housing, office and retail space, would have profound
impacts on adjacent neighborhoods and the fiscal condition
of the entire city. The Pratt Center conducted a preliminary
assessment that informs public discourse about the BAY
project by examining current assumptions and projections
about its costs and benefits. The analysis examines
the project's potential physical, economic, fiscal and
other impacts and reiterates community concerns.
New York City: Can Prosperity be Shared and Sustainable?
& Laura Wolf-Powers, November 2004
Bloomberg's administration has launched redevelopment
strategies in over 20 New York City neighborhoods that
seek to open the city up for new commercial office and
luxury housing development. While the plans offer many
benefits for the city's future, few real benefits (e.g.
affordable housing, living wage jobs) will reach the
less-wealthy 80% of the population. The paper suggests
how the proposed redevelopment plans could be reshaped
to create more shared and sustainable prosperity in
New York City.
Housing Opportunity in New York City: The Case for Inclusionary
Zoning (PDF format)
Center & PolicyLink, October 2004
zoning - setting aside affordable units in new housing
developments - could create more than 15,000 units to
address New York City's housing crisis. This report,
which analyzes the housing needs, development opportunities
and market conditions in New York City, makes a strong
case for inclusionary zoning as a successful strategy
for expanding affordable housing opportunities.
Heights Neighborhood Survey Summary Report (PDF
Center, October 2004
Brooklyn, has been the focus of significant media attention
after the unveiling of the proposed redevelopment of
the Brooklyn Atlantic Yards Project by Forest City Ratner
Companies. The multi-billion dollar plan includes a
19,000-seat Arena and basketball sports complex, commercial
space for office and retail and market-rate housing.
The Prospect Heights Neighborhood Development Council
(PHNDC), a local community advocacy group, commissioned
the Pratt Center to design an extensive survey of people
who live and work in Prospect Heights about existing
conditions, as well as their concerns and vision for
future development of the neighborhood.