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Sept. 11 Attacks Bring Unprecedented Downtown Opportunities: Doctoroff

NEW YORK CITY-It's not enough to rebuild Downtown, Deputy Mayor Daniel Doctoroff said yesterday as Cushman & Wakefield made its 2002 economic forecast. It's an opportunity to build a true 24/7 environment. But market equilibrium is at least three years away.

By John Salustri | Updated on February 20, 2002

NEW YORK CITY-From the rubble of Sept. 11 arises unprecedented opportunity. That was the consensus of the speakers yesterday [Feb. 21] as Cushman & Wakefield unveiled its 2002 economic forecast. While it’s easy to reduce the rebuilding of Downtown to filling the massive hole left by the Sept. 11 attacks, C&W US operations president Bruce E. Mosler and New York City Deputy Mayor for economic development and rebuilding Daniel L. Doctoroff agreed that beyond reconstruction, the effort to revitalize Downtown must hinge on making that market sector better than it was.

Indeed, Doctoroff told the nearly full ballroom of the Roosevelt Hotel that this was the “only chance we have” to make Lower Manhattan a true 24/7 community. Given that, while the city and its project partners–including the Lower Manhattan Development Corp.–are committed to “working quickly,” he said, “we realize that we are making decisions that will affect the city for the next 100 years.”

As much as new buildings, key to the Downtown vibrancy will be transportation. In his comments, Mosler called for the creation of a “regional mass-transportation hub.” Doctoroff agreed, noting, “the lack of adequate transportation has strangled the growth of Downtown.” Both envisioned direct rail ties to Long Island, New Jersey, Westchester and Staten Island with intermodal links to ease commutation.

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