In 1978, Ed Koch assumed control of a city plagued by filth, crime, bankruptcy, and racial tensions. By the end of his mayoral run in 1989 and despite the Wall Street crash of 1987, his administration had begun rebuilding neighborhoods and infrastructure. Unlike many American cities, Koch's New York was growing, not shrinking. Gentrification brought new businesses to neglected corners and converted low-end rental housing to coops and condos. Nevertheless, not all the changes were positive--AIDS, crime, homelessness, and violent racial conflict increased, marking a time of great, if somewhat uneven, transition. For better or worse, Koch's efforts convinced many New Yorkers to embrace a new political order subsidizing business, particularly finance, insurance, and real estate, and privatizing public space. Each phase of the city's recovery required a difficult choice between moneyed interests and social services, forcing Koch to be both a moderate and a pragmatist as he tried to mitigate growing economic inequality. Throughout, Koch's rough rhetoric (attacking his opponents as "crazy," "wackos," and "radicals") prompted charges of being racially divisive. The first book to recast Koch's legacy through personal and mayoral papers, authorized interviews, and oral histories, this volume plots a history of New York City through two rarely studied yet crucial decades: the bankruptcy of the 1970s and the recovery and crash of the 1980s.

This revised edition examines major redevelopment efforts in New York and London to uncover the forces behind these investment cycles and the role that public policy can play in moderating market instability. It chronicles the progress of three development projects in New York and three in London.

A richly illustrated history of below-market housing in New York, from the 1920s to today A colorful portrait of the people, places, and policies that have helped make New York City livable, Affordable Housing in New York is a comprehensive, authoritative, and richly illustrated history of the city's public and middle-income housing from the 1920s to today. Plans, models, archival photos, and newly commissioned portraits of buildings and tenants by sociologist and photographer David Schalliol put the efforts of the past century into context, and the book also looks ahead to future prospects for below-market subsidized housing. A dynamic account of an evolving city, Affordable Housing in New York is essential reading for understanding and advancing debates about how to enable future generations to call New York home.