Home > real estate > The ‘Great Recession’ and Forest Hills

The ‘Great Recession’ and Forest Hills

There’s been some discussion on the blogs about the end of the recession and the resumption of new development in Forest Hills.
My prediction is (and this is based on my background as a news/business journalist and some personal observation thrown in) that we will be very slow to emerge from this Great Recession and new projects in Forest Hills will be few and far between over the next couple of years. This is depressing for me to even write because I love the fact that so many new restaurants and stores have been opening around the neighborhood over the past few years. What we have to enjoy locally has really improved since I moved here more than a decade ago.
That said, I think the trend of older businesses renovating their spaces – such as the supermarkets on Queens Blvd. – is a welcome development.
I still get frustrated over Trade Joe’s decision to place their shop out of the reach of the car-less population of the neighborhood though, especially with all these empty storefronts now. But I guess I can understand they want people to buy trunk-loads of groceries, not just one or two bagfuls, so parking was a major factor for where they went.
The American economy is truly remarkable, and incredibly resilient, so I may be pleasantly surprised about all this and we may see some strong rejuvenation within the next year or so.
But for now, enjoy the new EuroPan cafe, the Green Market coming to Metropolitan, the new NY Falafel on Austin – all these things are great for the neighborhood and will continue to make Forest Hills a desirable location for other new businesses.

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