Proponents of lofts say they use neglected space, revive neighborhoods, stimulate the economy and ease the housing shortage.
Supporters say that community development financial institutions will fill a crucial gap in reviving poor neighborhoods.
It has been proven effective in New York to revive and stabilize neighborhoods, and yet they run away from that as a solution.
Now it's up again, to 1.3 million in 2000, as new immigrants revive neighborhoods that had been given up for dead.
While that made it easier to revive blighted neighborhoods, there are now fewer places for the poor to live.
This gentrification revived dismal neighborhoods and added to the tax base, but it also unleashed a replay of deinstitutionalization.
He has vowed to promote violence unless the city creates a $100 million jobs program and takes other steps to revive black neighborhoods.
At one time, Giuliani saluted them for reviving neighborhoods, but this year he began requiring them to get their plans approved by city bureaucrats.
The project is the first of several planned throughout New York City to help revive distressed neighborhoods where new housing has gone up.
The Governor is also expected to announce a $25 million spending increase for a program to help revive urban neighborhoods.