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Monday, August 08, 2005

Home Values Surging In Crown Heights, Once Known For Racial Strife

New Yorkers have something altogether different in mind when they think of Crown Heights - and that's real estate.

Crown Heights wouldn't be a hot real estate market if it had continued to be torn apart by racial strife. But the neighborhood has mended - thanks to efforts by religious leaders, civic coalitions and even a group of Jewish and African-American.

Some neighbors on St. Francis Place see a darker side to Crown Heights' real estate renaissance.

They said the boom is drawing builders to Crown Heights who are using its development sites for luxury condos when there's a need for affordable housing.

Some are worried that some elderly homeowners would get confused. They might not realize their properties are worth far more than he'll pay.

And residents are annoyed by a constant barrage of letters from brokers, offering to sell their houses for them.

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