There is a need for "smart growth," announced New York City Comptroller William C. Thompson, Jr., at a breakfast sponsored by New York Law School, on January 19, 2007.
While noting that New York City's future was bright -- as evidenced by a burgeoning economy, a rise in tourism, and a low crime rate -- the Comptroller's presentation highlighted a significant problem.
Thompson acknowledged that our great city suffers from an "affordability problem." About 29% of all New Yorkers spend more than half of their monthly income on rent, with 1.5 million people -- roughly 20% of the city's population -- living below the poverty line. Escalating housing costs also pose a threat to the City's diversity and economic stability, as we also price out our working class.
While the Comptroller was encouraged by the city's construction boom, he questioned whether we are building what we, as a city, need. The key, according to Thompson, is to strike a balance between economic and social interests, a balance which can only be achieved through thoughtful planning, he termed as "smart growth." A policy which "takes into account the big picture of neighborhoods, resources and needs, and minimizes harm to communities."
One of the central principles of "smart growth" is to encourage a mix of housing types and costs. This is particularly important given New York City's need for affordable housing, which, according to Thompson has reached "crisis proportions."
Thompson suggests a reexamination of the meaning of "affordable housing." While historically comprising low- to moderate-income families, he called for an expansion of our sense of that term.
Middle-income families must also be able to live in our great city, and a balance achieved, or "the gap between what we have and what we need, threatens to worsen in the coming years."
According to Thomson, positive change can be effected when all voices are heard and participate in this formulative process. By working collaboratively, we can ensure New York City's livability, affordability, and greatness.
Here is a video showing Comptroller Thompson's speech.