10 Years Later, New Challenges Persist in Downtown NYC

NEW YORK CITY-Approaching the 10-year anniversary of the terrorist attack on the World Trade Center, government authorities and developers are debating how to balance security in Lower Manhattan while maintaining the connectivity of Downtown’s four main neighborhoods. During “The New Downtown” conference sponsored by NYU Schack Institute of Real Estate and Silverstein Properties, panelists from the university, the real estate community and public officials discussed that despite Lower Manhattan’s re-emergence as a live/work community, new challenges remain, such as adding new retail, housing and other infrastructure improvements to support the growing population here.

“This is a very emotional issue, and to see how far we’ve come in 10 years, I think the redevelopment been very fast as far as mega, complex public projects go,” said panelist Carl Weisbrod, clinical professor and academic chair of global development at NYU’s Schack Institute of Real Estate.  Weisbrod–the founding president of the Alliance for Downtown New York–was at the forefront of redevelopment after the Twin Towers fell. “When you think about Times Square, Metrotech, Battery Park City or major projects across the country, ten years is short for a major urban redevelopment, and that went right.”