Transforming A Rundown Walkable Neighborhood

28 April 2005 - 6:00am

Georgetown pioneer remakes 'rat-infested alley' into an 'elegant cluster of shops.'

Maybe it was his European background that allowed Anthony Lanier to see the potential in a group of industrial buildings that were sited in a walkable neighborhood with narrow streets, one real estate broker theorizes. Whatever the reason for his vision, Lanier has turned a "long-neglected retail district" into the widely praised Cady's Alley retail center.

Source: The New York Times, April 27, 2005
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.