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Originally posted by: hoops2
Real life example. A few years ago a developer wanted to develop the empty Kingsbridge Armory in the Bronx. It would have created 1,200 jobs. The Bronx borough president got involved and insisted on a minimum wage $4 higher than the legal minimum. The developer said that made it to expensive & cancelled the project. Goodbye 1,200 jobs. The building is still a vacant eyesore today.
Expect more checkout kiosks & less people working the floor & less customer service.
Wow. Talk about misrepresenting the truth. It was the people of the neighborhood who shut down the project. Bloomberg was trying to bring gentrification into the area. To say to failed over wage demands is to oversimplify.
To call it an ugly eyesore is to not know the place. The Armory is literally a castle, with spires that tower above the neighborhood. The neighborhood wanted schools and a community rec center, not expensive malls the locals couldn't afford to shop in. When all was said and done, I believe every community board in the Bronx voted against the mall, and the City council voted against it, something like 44-1.
Here is an article from a different point of view.
https://www.yesmagazine.org/commonomics/kingsbridge-armory-community-benefits-agreement