Morgan Gebhardt

LMDC’s Residential Grants = ‘Unfair, Unstable’ Downtown

Although there was much fanfare over the programs designed to boost residential occupancy in Lower Manhattan, particularly the Lower Manhattan Development Corporation’s Residential Grant Program, these attempts, at least as currently structured, will cause far more harm than good. Indeed, they have already created market conditions that are unhealthy, unfair, unstable, and unsustainable. In the period leading up to the…