The Real Deal New York

Lower Manhattan agency pitches retail revitalization plan

June 21, 2010 08:30AM

From top: the current Water Street corridor and a rendering of the area after the revitalization plan

While Lower Manhattan may be better known for its office buildings than its bustling pedestrian neighborhoods, a new proposal could turn a key corridor into a commercial haven. The Alliance for Downtown New York, a neighborhood advocacy group, has pitched a comprehensive reorganization plan for Water Street designed to enhance foot traffic and encourage retail activity. The plan includes a broad reconfiguration of the roadway by scaling down Water Street and making the area more pedestrian-friendly through the addition of plazas and landscaped space. Also integral to the plan is a reevaluation of current Water Street zoning, the Downtown Alliance said, in order to allow more ground-floor retail activity. While it was not immediately clear how much the program will cost, Downtown Alliance said it expects the initiative to be complete in 2020. TRD

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