Tenant.net reports: "While co-op owners are being given substantial buy-out offers from Ratner, tenants are finding themselves left out in the cold. Tenants’ legal rights are less than homeowners’ rights and do not attract the same ‘Abuse of Eminent Domain’ argument. It’s still displacement, but not a property taking for the tenants …"
"…Tenants in the surrounding areas are likely to be as impacted as those on the arena site itself …For every Ratner tower that goes up, there will be pressures from other developers to tear down nearby tenements or brownstones, replacing those tenants with others who have little connection to the community and/or who can afford expensive apartments. Similarly, even in existing tenements, landlords will try to force out existing tenants and jack-up rents to levels never before seen in that area."
"For those who doubt this scenario, all one needs to look at is the secondary displacement now happening in various areas of Manhattan: Clinton, Chelsea, Lower East Side/East Village and Harlem."
"Despite the near unanimous rejection of Ratner’s plans by the people who live and work there … " Continued.