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.