| Please Provide Information |
|
| |
|
|
|
| Manhattan Apartment Locator Services : Manhattan Apartments |  | Contents | |
| Economy |
Vision
Accelerated diversification of Lower Manhattan's economy supports
a stronger city and regional economy in a range of sectors,
including finance, professional services, technology, design,
culture & tourism, education, media and communications.
The region's economy is less vulnerable to cycles in the financial
markets and incomes are less polarized as a result of an expansion
of middle-income job opportunities. Urban centers in New York
City's other boroughs and northern New Jersey grow, both from
the decentralization of financial services and the expansion
of other business sectors.
2010 Scenario Outcomes for Lower Manhattan
- 25,000 new office workers from 2002-2010, 13,000 new
non-office workers
- 26,000 new residents from 2000-2010 south of Houston
- 30,000 new daily visitors, an increase of 150% over
pre-Sept. 11
- 5 million sq.ft. of new office construction
- 2.5 million sq.ft. of new retail construction
- 8 million sq.ft. of new residential construction
- 5 million sq.ft. conversion of office to residential
Supporting Trends and Conditions
- Diversification already underway prior to Sept. 11
- Strong national and regional demand for creative and
technology-based industries
- Good transit access to large, talented workforce, diverse
neighborhoods and educational/cultural assets
- Strong potential for memorial to greatly increase visitor
population
- Synergies of culture, tourism, creative industries
and a diverse residential population
- Appeal of Downtown's historic & cultural assets,
waterfront and buildings
Economic Risks
- Still requires relatively strong national and regional
demand to succeed
- Even with improvements, no guarantee that new industries
will locate and grow in Lower Manhattan
- Loss of financial services could mean a net loss of
jobs and income to the city and region, rather than a redistribution
to other locations
Potential Benefits
- Could be the most effective for balancing needs of
residents, workers and others
- May provide some opportunity for reducing income disparities
- May provide more opportunity to decentralize some office
functions and generate demand for technical, research, culture
and tourist activity in other parts of the region
Potential Costs/Missed Opportunities
- Could require largest public investments in amenities,
culture and education
- May result in displacement of low-income residents
and some businesses
- May limit city's and region's growth potential for
some office industries
|
| |
| |
| |
|
|
|
|
