Is The Demolition Of This NY Landmark Another Win For Gentrification?

The gentrification of Brooklyn has been much debated lately, thanks in part to Spike Lee's heated rant on hipsters last week. Whether or not you agree with the film director, there's no denying that gentrification is spreading across many NYC neighborhoods, and it's happening fast. The latest example is the redevelopment of the Domino Sugar Refinery in Williamsburg.

Portions of the 11-acre factory, which dates back to the 19th century, will be demolished to make room for several luxury residential towers and work space for tech companies. The $1.5 billion project has been met with objections in the past: A petition circulated, and rallies were organized in attempts to preserve the historic architecture. Now that a final deal has been struck between the developer and City Hall, the 55-story high-rise buildings will drastically change the landscape of Williamsburg's waterfront.

However, it's not all bad news for the 'hood: The de Blasio administration reported that 700 out of the 2,300 units will be reserved for low and moderate-income residents. This is a reassuring sign for many, as there will be more of these big-scale developments to come. One thing we know for sure: We're going for a walk this weekend along the East River to get a good view of waterfront before the skyscrapers creep up on us. (Complex)