Villagers for a Sustainable NeighborhoodReport on Commercial Storefront Vacancies around proposed NYU expansion site
Release Date: June 26, 2012Introduction:In an effort to assess the proposal by New York University to expand its “core” campusand create additional commercial space in Greenwich Village, the Villagers for a Sustainable Neighborhood studied the number of vacant storefronts in the neighborhood to determine theneed for additional commercial space and the potential consequences of the plan. The studyfound that:1.
Greenwich Village’s observed vacancy rate of 7.7% was higher than the City average of 2% (Table 1)2.
Increasing commercial space would exacerbate this and put existing businesses at risk Methodology:Over the course of three days of field research (May 30-June 1), every block in theaffected area was profiled and the number of vacant storefronts was recorded as well as the typesof businesses present. Several blocks were identified as being particularly noteworthy for their high vacancy rates (Image 1). The data was collected in the area most directly affected by the proposed expansion.