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LMDC has embarked on numerous capital projects in Lower Manhattan to enhance the quality of life.
Projects & Programs > Capital ProjectsCapital Projects
New York Stock Exchange
The LMDC conducted several security and streetscape studies that resulted in enhancements that protect the New York Stock Exchange/Financial Core in the post-9/11 world while also enhancing the surrounding environment.
The first phase, completed in 2006, saw streets repaved and unsightly temporary barriers replaced with more decorative, permanent ones. As part of this process, Broad and Wall Streets – which fell into disrepair over past years as increased security measures made routine maintenance difficult – were resurfaced. A new wrought-iron-style fence was installed around the perimeter of the Stock Exchange and attractive bronze-sculpted objects replaced concrete Jersey barriers.
Additional streetscape and security improvements were put in place throught 2006, making the area a more attractive place to live and work, while enhancing security. Thought the closure of intersection around the Exchange to all but pedestrian traffic was a necessary security measure in the aftermath of 9/11, it presented a unique opportunity to create a new pedestrian oasis in the center of downtown, complete with “Euro-cobble” paving stones and outdoor plaza seating on Broad Street.
Reconstruction of Fiterman Hall
Fiterman Hall is an existing 15-story Borough of Manhattan Community College building that was partially destroyed when 7 World Trade Center caught fire and collapsed on the afternoon of the September 11, 2001 attacks. At that time, a portion of the building’s southern façade was ripped away, and the building continues to present blight on the neighborhood. The existing Fiterman Hall located at 30 West Broadway was built in 1959 as a 15-story office building. It was donated to the community college in 1993 by philanthropists Miles and Shirley Fiterman, and was under renovation to become an academic center in 2001. On the afternoon of the September 11, 2001 attacks, the project was only seven weeks from completion. LMDC proposes to allocate up to $15,000,000 for Fiterman Hall to join other sources of funding, including funds contributed by the City and State of New York. LMDC funds would be dedicated to costs for (1) planning, design and administrative expenses, including environmental, engineering, and other studies, and (2) enhancement of interior and exterior public spaces on completion of the replacement building, including landscaping, and indoor and outdoor furniture.
This project would create a K-8 public school consisting of approximately 97,000 gross square feet. The K-8 public school would be constructed in portions of the ground through fifth floors of a mixed-use development project, which would include residential condominium, rental apartments, an ambulatory care facility for NYU Downtown Hospital, and retail space, on Beekman Street adjacent to NYU Downtown Hospital and Pace University. The site is bounded by Spruce Street to the north, Beekman Street to the south, and William Street to the east.
The thousands of families living in the immediate downtown area will benefit from an additional elementary/middle school to serve Lower Manhattan children. There is currently severe overcrowding of Lower Manhattan schools, specifically, P.S. 234.