Tag: Long Island Index
There is no place on the East Coast where multifamily housing development is as difficult to build as Long Island. This obstruction puts the region at a great disadvantage, because multifamily housing in walkable settings is now in great demand. Fortunately, LI does have a lot of available space to develop near Long Island Rail Road stations.
The problem is that Long Island is cutting itself out of the job market, because our housing is so expensive. Neighboring suburbs in Westchester, southern Connecticut and northern New Jersey are attracting the businesses and jobs that should be coming here and should be providing employment for our children and growing our tax base.
After providing significant analysis of our region’s various maladies for more than a decade, the Rauch Foundation is actively looking to find a new organization to permanently take over publication of the Long Island Index. Without this great source of independent research, Long Islanders could lose valuable insight into the problems our region faces.
More than ever, Long Island residents are struggling to pay for housing. Since 1980, the Island has lagged behind regional competitors like Northern New Jersey and the Hudson Valley in residential construction. With comparatively little new housing stock and variety, home prices and rents in Long Island have soared.
There's an enormous gap between the multifamily housing that currently exists and what the Island will need to accommodate all the people who want to live here in the future.
Among the positive signs the report spotted is the Island’s relatively small but growing biomedical industry.
Sparse turnout is the norm—and Tuesday’s forecast doesn’t promise to reverse that apathetic trend.
The status quo has a lot of staying power, but there have been developments in consolidating Long Island special districts.
It predicts that the Third Track would add 14,000 jobs, $3 billion in personal income, $5.6 billion to our Gross Regional Product, 35,000 new residents, $40 million in additional sales tax revenue and $103 million in added property tax revenue.
“The Long Island Rail Road is one of Long Island’s top assets."