Hudson Waterfront Development Project - Economic Impact Study
United Ventures L.L.C. and Center for Economic Growth of the Rockefeller
Institute
New York State Department of State Grant, 2000
Project Summary
The past decade has witnessed a Renaissance in dozens of major urban centers
in the United States. Once blighted areas in cities as diverse as Baltimore,
Portland, Boston and Chattanooga have been transformed into thriving commercial
and entertainment districts. A common theme in these success stories is
the proximity of the transformed areas to waterfronts. This research investigates
proposed waterfront development plans for the Capital District portion of
the Hudson River. Given the long list of successes in other cities, the
relative lack of waterfront development in Albany and Troy, and a growing
awareness of the great potential of the Hudson River as an economic development
engine, political and economic forces are aligning to re-design the Hudson
waterfront on a more human scale. Tapping into the development potential
of the historic Hudson River could have a variety of positive effects for
the region, including economic development, environmental quality enhancement
and creating a sense of community and historical identity. This project will
analyze past successes and failures, summarize the existing economic and
social characteristics of the region, and build a framework that can be used
to consider alternatives. Working with Power and Light, Inc., the use of
digital photography, linked to economic scenarios, will be demonstrated as
a start-of-the-art public participation tool to stimulate imagination and
creativity in long-run community planning.