Self-Storage vs. Manufacturing in NYC: City Hall Weighs In

Sue_C

18 months later, de Blasio gets moving on plan to curb self-storage
[Read about it here]

AZStorageGuy

Sounds like NYC politics as usual.

The market says "yes, we need more of a certain industry (self-storage) here--there is unmet demand." 

The central planners say "we don't care, we want more manufacturing jobs--that's what WE demand."

We'll see how this turns out.

ThriftyStorage

Jobs are critical!

ThriftyStorage

How many people does one self storage facility employ?

Sue_C

It doesn't look good for new facilities still in the planning stages.
Current stores may enjoy a "monopolist-like advantage in setting rental prices."
Read here for an update from SpareFoot about the looming zoning changes in NY.

Orkocean

We had a store in Plantation, Florida that was pretty outdated as it was one of the oldest in town BUT because the city refused to give permits to any new storage facilities the few which were up and going got to have some pretty high prices compared to nearby cities.

Sue_C

The discussion on self-storage vs manufacturing in New York City continues...
Councilman sees win-win opportunity: Read about it here from Real Estate Weekly

Sue_C

In December the City Council passed a bill requiring special permit for self-storage facilities, read more about it here:

NYC’s storage industry has "crate" expectations [Article]