SoHo Update: Should Artists in SoHo Monopolize Lofts in SoHo?

A debate has begun as to whether loft-space in SoHo should still be exclusively rented out to artists in New York City, or whether everyone should have the opportunity to live in a SoHo loft.  The debate centers around a 1971 New York City zoning law, which requires each SoHo loft to have at least one artist or successor.  Opponents of the 1971 zoning law believe that the law has outlived its purpose and it’s time to offer these loft spaces to the general public.  They also claim that the current residents and owners of the loft spaces should not have the city zoning law hanging over their heads, especially because many of the residents are in the lofts illegally.  On the other hand, proponents of the zoning law claim that changing the law will speed the influx of Wall Street financiers buying multimillion dollar lofts, thus putting more pressure on artists to leave.  Essentially, they claim that getting rid of the law will destroy SoHo.  In addition, they claim that changing the zoning law will lead to the wholesale eviction of the artist residents, both rental and co-op.

It is unclear whether the zoning law will be overturned.  One thing is for sure though; if the law is in fact repealed, there will be a wave of gorgeous SoHo lofts available to the general public.  Stay tuned for further developments.

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