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Message From The Mayor
Since the terrorist attacks of September 11, 2001, New Yorkers have been working hard to bring about a renaissance in Lower Manhattan—and the signs of our success are unmistakable. In the past five years, we have created close to 9,000 new and refurbished units of housing, and the number of residents has grown to nearly 70,000—a sure indication of confidence in Lower Manhattan's future. The commercial occupancy rate is now higher than it has been in five years, with dozens of new retailers, grocery stores and restaurants opening their doors to serve the growing population. We have opened two new schools, created or improved 14 parks, begun work on a new library, and brought a myriad of cultural institutions and museums to the area, giving downtown residents and visitors even more places to learn, relax and play. In addition, work has begun on the MTA's Fulton Street Transit Center, the PATH station, and — most importantly of all — the 9/11 Memorial and the new Freedom Tower.
The Lower Manhattan that is taking shape today is a vastly different place from the Lower Manhattan we all remember in the aftermath of September 11th, when thousands of residents were displaced from the area, the Financial District was losing commercial tenants by the dozens, and the loss of key transportation infrastructure kept the remaining residents, employees, business owners, and visitors from moving freely around the area. Even with the challenges involved in planning the redevelopment of Ground Zero, the area's recovery has been far stronger than any of us could have imagined five years ago.
And there are no signs that the pace of recovery is letting up, thanks to our common vision of Lower Manhattan as a 24-7 community in which people can live, work, and unwind. The Lower Manhattan Development Corporation has been a critical part of making this goal a reality, serving as a conduit for the federal funds that are financing many of the projects. Working together, LMDC and the City of New York are restoring and rebuilding neighborhoods, creating new public places, bringing cultural institutions downtown, supporting dozens of community enhancing programs, setting out a plan for investing in Lower Manhattan, and forging links that will connect this thriving neighborhood to other parts of the City and the world.
In the end, more than $30 billion will be invested downtown — the single largest concentration of construction activity in New York's history — and our efforts will help lead to a new century of growth and vibrancy for Lower Manhattan and New York City.
Michael Bloomberg
Mayor
City of New York
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