Water Street's Facelift

by Amy Burkhoff

Based on The New York Times article “Trying to Breathe Life Into a Canyon of Concrete” by Patrick McGeehan

Over the past year there have been a number of executed plans to redesign main streets in Manhattan. Each plan had a similar goal: to draw both workers and tourists to the streets. The High Line in Chelsea was opened to the public in 2009 offering a public space running through the Meatpacking District, West Chelsea and Hell’s Kitchen drawing tourists and locals alike. Beginning in 2009 a section of Times Square was closed off to all cars creating an area for pedestrians to sit and enjoy this hustling and bustling tourist hub. Herald Square also has a traffic free area where pedestrians and local businessmen can sit and enjoy the outdoors reading the paper and eating lunch. These three projects are just to name a few of the recent projects completed in Manhattan calling all people to the streets.

In order to redefine Water Street, the state and federal government as well as local property owners must commit to a joint effort. Elizabeth H. Berger, president of the Downtown Alliance stated that before property owners will invest in street-level improvements, the government has to “modernize the corridor.” Recently, the government has shown a commitment to the World Trade Center and Battery Park City. It is time to turn our attention to the east.

Now, it is the financial districts turn for a face lift on Water Street. Prime Manhattan Realty can find an office for you in this up and coming area of the Financial District. Your company can set the trend on Water Street.

The Alliance for Downtown New York wants to “redefine Water Street as an engaging commercial boulevard.” Currently Water Street is one of the widest streets in the financial district drawing a lot of traffic, but not many pedestrians. The Alliance plans to turn Water Street into the Park Avenue of the financial district by narrowing the streets and separating traffic with a plant median. The Downtown Alliance plans to create a pedestrian plaza at the intersection of Water and Whitehall Streets and prohibit cars on Front Street during lunch time. In addition, they plan to install public art on Fulton Street. The Downtown Alliance has made these plans in hopes of luring in tourists and more companies to the area.

If NYC and property owners on Water Street put some time and money into this financial district facelift, more tenants would be attracted to setting up businesses and investing in commercial offices there. Steven Spinola, the president of the Real Estate Board of New York said, “the owners believe that they have to redefine what the street life and what the environment will be to get those tenants to make commitments in that part of Lower Manhattan.”

For more information on Prime Manhattan’s office spaces in the Financial District please click here.