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Keeping Businesses In Downtown

Posted by: Abhijeet Chavan
Thanks to: The Practice of New Urbanism
26 July 2002 - 8:00am

Incentive won't keep businesses in downtown. Quality of life and transportation are more important.

"City and state officials are finding that cheaper rents in Lower Manhattan and millions of dollars in cash grants and tax breaks from the government are not enough to keep [businesses in downtown.] With few prospects for filling up new skyscrapers, many urban planners and real estate executives say it would therefore be a huge mistake to replace the entire 11 million square feet of commercial space lost at the World Trade Center."

Full Story: Downtown, An Exodus That Cash Can't Stop
Source: The New York Times, July 26, 2002
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Areas well-served with public transit and nearby jobs and services simply require less travel because residents have the option of walking, riding a bike, taking public transit, or driving.
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