–Small businesses knew they got shortchanged by the Paycheck Protection Program (PPP), the federal government’s Covid relief initiative. A new analysis supports that conclusion, showing that a little more than half of NYC micro-businesses (with 10 employees or less) received loans. On the Lower East Side, 47.7% of small businesses secured loans. The analysis shows that more affluent neighborhoods got a larger share of PPP loans. [The City]
–Second generation Chinese New Yorkers are stepping up to help devastated Chinatown businesses but there’s widespread agreement that the only thing that will save most local small businesses is a massive federal bailout. [WNYC-Gothamist]
–The city is moving forward with the East Side Coastal Resiliency Project but the debate rages on about plans for East River Park. [City & State]
–The city has awarded tax credits to 7 new housing projects, including a development on Broome Street that will result in 115 apartments for low-income seniors. [New York Yimby]
–Designer Sandy Liang does not stray far from her Chinatown/Lower East Side family roots in opening a new store on Orchard Street. [Paper]
–The Amsterdam fashion brand Daily Paper signs a lease for a 6,000 square foot NYC flagship store at 18 Delancey St. [Real Estate Weekly]
