4th Annual Real Estate Weekly Women’s Forum Draws Crowd, Highlights Challenges
The 4th Annual Real Estate Weekly Women’s Forum was held on February 25, 2015 at the Wyndham New Yorker Hotel in New York City.
About 500 of New York City’s most powerful and innovative women developers, owners, investors and other principals attended the event to share their insights into the ever-changing world of New York real estate.
The session “The “New” New York: The Future of Our Changing Neighborhoods” drew a large crowd, with panelists emphasizing greatly the need for more affordable housing and development in and around New York City and the surrounding counties such as Nassau and Suffolk.
The panelists discussed the challenges involved in building affordable housing developments, while also incorporating the necessary residential and community services to sustain the new developments. They also discussed the need for convenient public transportation.
Patricia Dunphy, Senior Vice President of Rockrose Development, pointed to Long Island City as an area that has become very popular lately. Many luxury condos are being built there due to the housing being more affordable than New York City as well as its convenient public transportation. In addition, numerous multi-use developments are being constructed in Long Island City with space being made for restaurants, gourmet markets and major retailers. Melissa Pianko, Executive Vice President of Development for the Gotham Organization, Inc., discussed the development of Gotham West, a new groundbreaking rental property spanning four acres between 44th and 45th streets east of 11th avenue in Manhattan. The new complex will include four residential buildings, an artisanal market, a new public school and the retrofitting of the existing on-site public school.
Most of the panelists agreed that as the housing prices in New York City continue to rise, the popularity of mixed-use developments in other areas within close proximity to the city, but with more affordable housing and necessary amenities and services, will continue to rise and present new opportunities for real estate developers, contractors, and other real estate professionals.
Other topics discussed at the event included technological innovators in real estate, insights into sustainable designs and developments and making connections across the real estate industry.