LMDC, City Planning Dept. Launch Retail, Residential Studies

NEW YORK CITY-The Lower Manhattan Development Corp. and the Department of City Planning have embarked upon two far-reaching studies that could have a serious impact on the redevelopment of Lower Manhattan. A report on the Fulton Street corridor will examine the area’s post-Sept. 11 needs as a retail and arts/entertainment destination, and a residential study will examine the area south of Houston Street with an emphasis on affordable housing.

The Fulton Street study’s coverage area will extend from the South Street Seaport to the World Financial Center. The report will analyze the impact of the World Trade Center attacks on one of Downtown’s vital commercial strips and propose a revitalization strategy to strengthen and diversify retail outlets and arts/entertainment venues.

“Our vision for Lower Manhattan’s future includes places to shop and eat, open spaces for recreation, and cultural institutions to attract residents and visitors alike to the area,” says Deputy Mayor for Economic Development and Rebuilding Daniel Doctoroff. “This study of the Fulton Street corridor is an essential next step in our efforts to revitalize the business, retail, arts and entertainment communities, create new jobs and enhance the streetscape of downtown.”