What Happens When Gentrification Rolls Back

When Gib Veconi moved to Prospect Heights in 1991, he and his neighbors spent years renovating brownstones. They started with garden-level apartments, and finished each successive story with rental income earned from the ground-floor tenants.

"No one could imagine tearing down a historic building," he said. "It was a question of economics." They couldn't afford the demolition.

Mr. Veconi, the chairman of the Prospect Heights Neighborhood Development Council (PHNDC), will tell you how the block associations of the 1990s were made up of members who had lived in the area since the 1950s, and the newcomers were like him, just looking for more space to raise a family.  read more »

Copyright Obser - Observer
Contact Us