KINGSTON – The current housing crisis in the City of Kingston has some city officials speculating that gentrification, as well as the city’s efforts to revitalize and beautify the community, could be directly impacting exorbitant rent hikes that have been recently reported by city residents.
Kingston has not only been the second awardee of the Downtown Revitalization grants in the Hudson Valley, but has also done very well over the past few years in state Consolidated Funding Application rounds and receiving grants for infrastructure improvements, including the Broadway Street Scape project, the Henry Street sewage project and the Kingston Point Rail Trail, among others.
This paired with new businesses, arts and culture growing within the Downtown and Midtown areas has increased the value of the residential properties there.
Alderwoman Andrea Schaut said although these are all things that are good for the city, it may be a double-edged sword and the council is just beginning to discuss the ramifications.
“Now we’re starting to talk about it; but, even still, not everybody actually believes it’s here, but it’s been here for a while. It’s been looming,” said Schaut. Now we’re just noticing the side effects, but all the good things can cause bad consequences in my opinion.”
The city will soon undergo a study on rental property vacancies, with the possible outcome to be imposing rent control.
The argument, thus far, in favor of rent control is to combat the gentrification of the city; however, the various infrastructure and economic development initiatives that are being favored by the city are contributing to that situation.
