Tuesday, May 22, 2007
Rebuilding downtown manhattan, a bird's eye view
Now appearing weekly on LowerManhattan.info is a new map which details nearly 70 downtown construction and renovation projects. It also provides a bird's eye view of the amazing amount of real estate development and infrastructure improvement going on downtown right now, estimated at an aggregated investment of 20 billion dollars in the area. It's one of the reasons why I'm personally so bullish on areas like Tribeca, the Financial district and the Lower East Side for my clients. Those I've represented as sellers have done quite well so far. For others, I believe having the foresight to buy in now will reap rewards in the future. The map is updated every week by the Lower Manhattan Construction Command Center. The LMCCC along with the city Department of Transportation, New York City Police Department, and other partners use the map continually to identify locations where traffic congestion, pedestrian restrictions, or other access issues may arise throughout the downtown reconstruction effort.