Sep 9, 2011

9/11 - New York's Real Estate Market A Decade Later


9/11 - New York's Real Estate Market A Decade Later

I will always remember that sunny September day 10 years ago, all the innocent lives lost and all the heroes who sacrificed their lives to save others. 

This blog is a market report about the Rebirth of Lower Manhattan and New York's Comeback.
Since September 11, 2001, the number of people living in Lower Manhattan has nearly doubled. In fact, Lower Manhattan has added more people over the past ten years than Atlanta, Dallas and Philadelphia combined.

Our city’s rapid economic recovery was the result of strong leadership at all levels of government (local, state and federal) and the resilience of all New Yorkers who were determined to come back from this unthinkable event stronger than ever.

Today Lower Manhattan is full of new housing, restaurants, hotels, bars, parks, schools, open spaces and new businesses big and small. Despite wide spread fear after 9/11 that New York's economy would never recover, The Real Estate Board of New York's (REBNY) examination of the city's real estate market shows that the city has demonstrated strength and resilience in the ten years following the attacks.

REBNY Study NY Real Estate A Decade after 9/11

Ten years later, New York City’s economy is strong and its real estate market is robust. REBNY has compiled data that chronicles the strides of NYC's real estate market in the last decade. Stimulated by government incentive programs, including grants for businesses and rent stipends for residents near ground zero, New York City has recovered and continues to thrive.

Today, New York City is thriving. Our population is growing and the city is adding new jobs. In re- sponse to the attacks, New York City has been a national leader in implementing more stringent building safety requirements. These include wider emergency exit stairs to make evacuations quicker, the installation of photoluminescent strips to make building evacuations safer and the full sprinklerization of office buildings to better safeguard property and protect lives.


In the spirit of the fellowship and unity that brought New York together in the wake of the September 11 attacks, Community Board 1 invites you to join us for Hand in Hand -- Remembering 9/11 as we stand together to show our resilience, unity and remembrance.

On Saturday, September 10th, 2011 at 8:46am, we will commemorate the 10 year anniversary of the September 11th attacks, when thousands of people will grasp hands to form a human chain along the waterfront from the tip of Lower Manhattan heading north.
> Register now.


courtesy of:
Mitchell Hall, Associate Broker, The Corcoran Group
REBNY member


      

 
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