Social Media NIMBY Movement Derails Big Real Estate Deals

If anyone still doubts the power of social media to affect the real world in a very substantial way, the intersection of social networks and real estate development should put these lingering doubts to rest.

As always, stories with big dollar signs attached are more impressive, and this seems pretty big to me: according to The Wall Street Journal, a group of homeowners in the Long Island town of Huntington successfully used social networks to organize local opposition to a 490-unit, $100 million housing development proposed by AvalonBay Communities Inc. for a site not far from a Long Island Rail Road station — aiming to create affordable homes within easy reach of public transportation. The local homeowners argued that the new development would attract low-income home buyers and overburden the town’s public schools.

Red remainder of the story at The Social Graf

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About Bob Voelker

Head of the Munsch Hardt (Dallas law firm) Hospitality & Mixed Use Development Group, and former developer of affordable housing. I'm i
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