Water Street revamp needed to retain corporate tenants, study finds

TRD New York /
Jul.July 02, 2010 09:30 AM

55 Water Street, home to Standard & Poor’s

The Alliance for Downtown New York has come out with a new study on how
to transform the dated Water Street into a more vibrant and
pedestrian-friendly scene. According to the Downtown Express, the study
says leases in many of the street’s office buildings will expire over
the next five years, which puts local businesses and landlords in
jeopardy if tenants opt to move out.
Among the major Water Street tenants are Standard & Poor’s, A.I.G.
and law firm Sullivan and Cromwell. To keep them there, the Alliance
suggests creating more diversity in retail, dining and public spaces in
an effort to be led by the public sector. That includes re-scaling the
streetscape, strengthening its connection to its history and to the
waterfront, realigning public and ground-floor spaces and extending
hours of activity, said Liz Berger, president of the Alliance. [Downtown Express]

 

Related Articles

arrow_forward_ios
Construction frenzy to reshape look of city south of Canal

Construction frenzy to reshape look of city south of Canal

BIDs’ budgets to balloon in 2014

BIDs’ budgets to balloon in 2014

LoMa advocate Elizabeth Berger dies

LoMa advocate Elizabeth Berger dies

Looking at Lower Manhattan 10 years after Sept. 11 attacks

Looking at Lower Manhattan 10 years after Sept. 11 attacks

Placeholder image

Lower Manhattan agency pitches retail revitalization plan

Placeholder image

Lower Manhattan agency pitches retail revitalization plan

Q & A with Alliance for Downtown New York President Elizabeth Berger

Q & A with Alliance for Downtown New York President Elizabeth Berger

Placeholder image

Lower Manhattan year-in-review shows some positive signs after a mostly gloomy 2009

arrow_forward_ios
Loading...