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World Not Ending After Gowanus Superfunding, Report Says

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Reactions to the Gowanus Canal's Superfund designation ranged from red clouds of doom to somewhat reluctant acceptance from developers still planning residential projects. But a report out from Baruch College's Steven L. Newman Real Estate Institute?tied to a panel today?wants everyone to stop with the reluctance already and embrace what it insists are the canal area's big possibilities as a residential neighborhood. Wha?

The report says the area could sustain 30 percent more housing than it has now, which means up to 3,000 new units, including affordable housing. The demographics of the Gowanus Canal area are also changing in ways that make luxury residential development seem a little less out there. In 1970, 7.5 percent of Gowanus residents worked in business/finance, and 3.2 percent were professionals in other fields. In 2000, that number was up to almost 16 percent for business/finance and 33.1 percent for other professional fields. But can gentrification perfume mask the lingering scent of Superfund?
· Reconsidering Gowanus [Baruch]
· Gowanus will bloom with more housing, less stink [BK Paper]
· Gowanus Canal coverage [Curbed]