Everybody wants investment -- the question is how equitably will the benefits of that reinvestment be shared? Will the existing community be displaced, or are there ways of encouraging a co-existence of old and new residents and businesses? Some change is unavoidable. Our point with "My Brooklyn" is that the city is fueling the change in ways that create a more unequal city. The city encourages luxury residential development through subsidies to developers that are unnecessary in a hot real estate market like Downtown Brooklyn's. Residential subsidies totalled more than $200 million in 2011 alone, and they will continue for 10-25 years! This is money that could be distributed in ways that could benefit a wide cross-section of Brooklynites instead of just giving the most affluent residents a gigantic break on their real estate taxes.
http://www.huffingtonpost.com/2012/06/12/gentrification-brooklyn-my-brooklyn-documentary-movie_n_1590667.html?utm_hp_ref=new-york
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