Rent Gap Theory

Improved Essays
At first it could seem like the conversion of industrial spaces in Williamsburg to housing would bring down prices in the area because it is creating more housing. However, the reality is that since the rezoning was approved, the rent in Williamsburg has continued to rise. The primary for this increase is that the majority of new housing that is being built is for wealthy residents and the rents on these units reflect that (Martucci, 2013). These luxury units have brought up the average rent rates in Williamsburg and therefore made it easier for landlords to increase rents even on units that are not considered to be luxury. This increase in rents can be explained by Neil Smith’s rent gap theory, which focuses on how landlord and investors will …show more content…
Martucci was able to provide a particular interesting explanation to a question that I asked her regarding why the North side of Williamsburg has gentrified so much faster than the South side of Williamsburg. The answer that she gave to this question is that she believes that race played a big role in gentrifying the North side faster. This theory makes sense because the North side of Williamsburg is largely comprised of Polish and Italian immigrants, while the South side of Williamsburg is largely Mexican immigrants. When white gentrifiers moved to the area, they sought out the North side because they wanted to be in an area that was also predominantly …show more content…
Martucci criticizes this program because she feels that it caters to the wealthier residents by bringing expensive vendors and music acts to the area. Martucci felt that by allowing “Williamsburg Walks” to take place, the city was promoting Williamsburg as being a place for rich people to live and work, while ignoring the industrial past and immigrants that built this neighborhood. Hearing Martucci’s stance against the Williamsburg Walks, inspired me to reach out to Anna Nichole Gorman, who is a program manager with the New York City Mayor’s office and has studied “Williamsburg Walks” and has a deep understanding of Williamsburg.
Gorman shared with me that “Williamsburg Walks” is a program that is put on by organization called NAG (Neighbors Allied for Good Growth), which primarily advocates on behalf of the new residents in the neighborhood. She also shared with me how the community of Williamsburg is not unified in their advocacy, with different community organizations representing each group of residents. Hearing about NAG and the other community based organizations made me want to reach out to the NAG and understand their perspective on gentrification in

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