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"When the stock market crashed in 1929, it occurred just as a rectangular reservoir north of Belvedere Castle was being taken out of service. By 1930, a few homeless people set up an informal camp at the drained reservoir but were soon evicted. But, having nowhere to go, they would come back and as public sentiment became more sympathetic, they were allowed to stay. Called “Hoover Valley,” the reservoir soon sported a number of shacks on what was labeled "Depression Street." One was even built of brick with a roof of inlaid tile constructed by unemployed bricklayers. Others built dwelling from stone blocks of the reservoir, including one shanty that was 20 feet tall. Though the settlement could not have been popular with the tenants of the new Fifth Avenue and Central Park West apartments, but they mounted no protest." (