New York City is no stranger to the effects of economic downturns. The Empire State Building, once known as “the Empty State Building”, didn’t become profitable till almost 20 years after it was completed. But Jonathan Mahler suggests that, as in the past, the current downturn will give the city a much needed chance to contemplate the consequences of its recent architectural boom.
Since November, some $5 billion worth of development has been delayed or canceled. New York is again a city of abandoned lots, half-finished buildings and free-floating anxiety. “At this particular moment, I think that everyone who is honest with themselves can’t but help think about 1929, which came at the end of an extraordinarily fertile period for architecture,” says Robert A. M. Stern, dean of the Yale School of Architecture
After the Bubble Jonathan Mahler NYT 3/12/09