VIEW the COMPLETE ECONOMIC STUDY, Phase 2
vision42 Economic and Fiscal Impacts of Proposed LRT Services in a Pedestrianized 42nd Street on Retail, Restaurants, Hotels & Theatres in the 42nd Street Corridor Prepared by Urbanomics, Inc. November 2006 vision42 an auto-free light rail boulevard for 42nd Street Phase II Technical Studies— Anticipated Economic Impacts on Retail, Hotels and Theaters Regina Armstrong, Principal-in-Charge Tina Lund, Senior Research Associate Heidi Gorman, Economic Planner Urbanomics 115 Fifth Avenue, 2nd Floor New York, NY 10003 212-353-7465 in association with Amos Ilan and Catherine Lanier October 16, 2006 vision42 Roxanne Warren, AIA, Chair George Haikalis, ASCE, Co-Chair The vision42 proposal is a citizens’ initiative sponsored by the Institute for Rational Urban Mobility, Inc. (IRUM), a New York City-based not-for-profit corporation concerned with advancing cost- effective transport investments that improve the livability of dense urban places. This study, one of a second round of three technical studies that address key concerns about the feasibility of the vision42 proposal, was made possible by a generous grant from the New York Community Trust/Community Funds, Inc., John Todd McDowell Environmental Fund. Institute for Rational Urban Mobility, Inc. P.O. Box 409, New York, NY 10014 212-475-3394 www.irum.org www.vision42.org Economic and Fiscal Impacts of Proposed LRT Services in a Pedestrianized 42nd Street on Retail, Restaurants, Hotels & Theatres in the 42nd Street Corridor 1 Executive Summary 2 The 42nd Street Corridor: Existing Conditions 2.1
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