An article in the NYT on Monday, March 18, discussed a new funding source for libraries and schools. Basically, these institutions would sell the land their buildings sit on. In exchange, developers would off them new space in new buildings. Of course, these sites are located in prime real estate areas. Two NYC libraries, one on Cadman Plaza and the other near the Barclay Center, are two examples of this development. Both would be torn down and then rebuilt at no expense to the taxpayer. Space would be provided to the libraries on the ground floors of new apartment buildings.
Urban planners quoted in the article see this as a win-win situation for all those involved. Mayor Bloomberg recently announced that the city is selling two municipal buildings near City Hall for $250 million. Incorporated in the new buildings on these sites will be a public digital arts and media space. City dwellers, on the other hands, see these projects as just more encouragement to build yet another high rise building. Others also felt that different kinds of architecture make neighborhoods interesting.
With many city libraries facing the problems of aging buildings and massive repairs, this alternative does seem to offer an approach that will be beneficial to libraries and their patrons.