New York co-op sues Bike Share program for ruining their property values
99 Bank Street, in New York's West Village is a lovely historic pile on a lovely historic cobblestone street. A hundred years ago, it was probably full of bikes. Then the cars came and filled up the streets, and suddenly they became the new normal, that we give up 150 square feet of road so that one person can park their private vehicle.
Since less than a quarter of the people living in Manhattan have cars, you would think that the residents of 99 bank Street would cheer when they got their street back, when they got a wonderful public utility right outside their door, instead of somebody else's car.
The placement of such a massive futuristic structure ... (and) dropping ... a slab in front of (their) 100 year old landmark building located on an historic street in a landmarks protected district is offensive to the public and residents,” the owners’ lawyer, Jeffrey Barr, says in court papers.
Barr said the residents decided to sue the corporate sponsor, Citibank, and the vendors running the program, Alta Bicycle Share and NYC Bike Share, because they are in charge of the program and in position to make a change.
He said they also are responsible when the building’s value drops because the bike racks attract garbage and animal waste and impede pedestrian and vehicular traffic, forcing bikers to ride on the narrow sidewalks to escape the narrow bumpy street.
You can't call them NIMBY, because back yards are private property. They are NIMPS, Not In My Public Street, wanting to retain control of something that they don't own and never did.
Ben Fried of Streetsblog points to an article in real estate magazine Crains, where developers and real estate brokers are excited about the impact of bike share programs:
Residential brokers are also buying into the program. "I deal mostly with clients in their late 20s to mid-30s who are very physically active," Douglas Elliman agent Zakery Risinger said. "Being close to one of the stations will be a huge selling point for apartments."
In fact, a study by the National League of Cities concluded that bike share programs increase property values.
Bike share programs have a variety of economic benefits. Bicycling increases exposure to storefronts compared with driving, which leads to more spending in retail areas. Bicycling facilities can increase home values and consequently add to municipal tax revenues.
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