"First conceived by the Giuliani administration in the days when the economy was booming and dot-coms we re seen as an engine of growth, the plan involves rezoning a large swath of the area to allow for denser office and residential development... The study that provides the blueprint for the project cites an anticipated need for 60 million square feet of office space in Manhattan over the next two decades, and concludes that Far West Midtown has the ability to accommodate a significant share of this projected need. But this study is based on research conducted before 9/11-before the city lost nearly 100,000 jobs, before dozens of companies dumped several million square feet of sublet space on the office market, and before security concerns prompted many large companies to decentralize their workforce." Jonathan Bowles is Research Director of the Center for an Urban Future.
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