Complaining about the proliferation of bank branches in New York City has almost become cliche, but City Planning officials are taking steps to enact zoning restrictions along 125th St. in Manhattan that would limit the number of bank branches on the main drag of Harlem. The idea is that bank branches can have a deadening effect on pedestrian use of a an area because they take up space that could be used for arts, entertainment, or retail purposes.
Per the Times' CityRoom blog, the new zoning would not allow banks to occupy street-level spaces between Broadway and 2nd Ave. Doorway entrances with limited ATM facilities would be allowed with stairway access to upper-level bank floors. These restrictions would only apply to new or expanded buildings and would not affect the current 15 banks lining 125th St. already.
A study last year showed that the number of bank branches increased 36% in New York between 2000 and 2006. An unscientific Gothamist poll at the time indicated readers found the opening of a Duane Reade or a Starbucks in their neighborhood less offensive than another Chase Bank branch. And that was before Chase raised their non-customer ATM fees to $3!
