From the NY Times:
Over the last few years, new construction in Chinatown — by both Chinese and non-Chinese investors — has increased as the neighborhood has felt spillover development pressures from TriBeCa, the Lower East Side and NoLIta. In total, the Community Development Project of the Urban Justice Center and the Chinatown Justice Project of the Committee Against Anti-Asian Violence, which conducted the survey in 2008, counted 25 new hotels, 118 new high-end priced boutiques and cafes and 26 luxury residential buildings in Chinatown, which it defined with borders along Franklin D. Roosevelt Drive, Pearl Street, Worth Street, Broadway and a jagged boundary to the north.
Though Chinatown has evolved greatly throughout New York City’s history, the advocates argue that the pro-development stance of the Bloomberg administration has created an unprecedented crisis in affordability in the neighborhood. While a broad swath of the Lower East Side has been rezoned over the last three years, advocates also felt that the process should also have included Chinatown. Part of the fear is that Chinatown, particularly the Bowery, would receive the brunt of the development pressures displaced from the Lower East Side.
Photo from sayheypatrick on Flickr