Bed-Stuy’s Gentrification, Effects On Residents Analyzed In Comptroller’s Report
Brooklyn’s Bed-Stuy is much different today from what it once was back when films like Spike Lee’s Do the Right Thing highlighted the neighborhood. In the midst of gentrification, the area’s reputation as a predominately African American neighborhood is shifting and so, too, is its economy and real estate market. A new report released by state Controller Thomas DiNapoli analyzes those changes— good, bad, and indifferent.
The report, entitled “An Economic Snapshot of the Bedford-Stuyvesant Neighborhood,” takes a look at how gentrification has affected the neighborhood and its long-time residents. While there has been a surge in new businesses and employment growth, not all have benefitted. . .