In NYC, I expect it to be a good thing. The rising real estate values devastated poorer communties in Manhattan (people were paying mansion taxes on shoe-box studio apartments). And if you enjoy the off Broadway arts scene, you pretty much have to go to the burroughs. Most of the arts groups were driven off the island. Along with most small owner-operated establishments.

If the city can keep crime under control during the process, it will be the best thing that’s happened to this city in a long time.