"It will be nothing but positive," says Bruce Mosler, head of US Operations for Cushman & Wakefield. He notes the importance of the stadium effort being coupled with the refurbishment of the nearby Jacob K. Javits Convention Center. "New York having the 17th largest convention center is unacceptable," he says.

Faith Hope Consolo, vice chairman of Garrick-Aug Worldwide, compares the new venture with the revitalization that took place around the MCI stadium in Washington, DC. "It's a big shot in the arm," she offers. "The West Side is like a waste land, except for a few pockets." Restaurants and sports-related retailers will be the first to jump on the bank wagon and she expects other service-oriented retailers to help in the revitalization effort. In addition, she says local retailers might find success due to the increased traffic and that tourists will flock to the area as well.

Real Estate Board of New York president Steven Spinola says that if the stadium was the only aspect of the plan, it wouldn't have the impact that the city's 40-year effort for the West Side can potentially hold. "The planning has been phenomenal. It's what New York needs," he says. He expects residential developers will snap up West Side properties in anticipation of an influx of people. "Retail comes when the people come."