downtown alliance 2013 annual report

ALLIANCE FOR DOWNTOWN NEW YORK ANNUAL REPORT 2013

TURN THE PAGE: LOWER MANHATTAN’S MOMENT HAS ARRIVED

ADNY Annual Report, 2013 4ADNY Annual Report, 20133

Adam Fifield & Andrew Breslau - The Alliance for Downtown New York, Inc.

IMAGE CREDITS

Additional Information Provided By:

Information Sources:

Writing & Editing

photos courtesy of Silverstein Properties, Inc. - Cover, 3, 5, 14, 21, 36.38, 23-26photos courtesy of Westfield Group - 4, 37 photos courtesy of Howard Hughes Corporation - 5, 17 photos courtesy of Metropolitan Transportation Authority - 4, 34, 23-26photos courtesy of Century 21 - 30photos courtesy of Brookfield Office Properties - 31 photos courtesy of Port Authority of New York and New Jersey - 23-26 Joe Woolhead - 8, 23-26 Marilynn K. Yee/The New York Times/Redux - 43

“Rite of Summer” photo courtesy of govislandblog.com - 32Phillip Greenberg - 5, 10, 16, 44Jaclyn Slimm - 5, 12, 13Jennifer May (jennifermay.com) - Pages 4, 6

Jones Lang LaSalle for technology sector leasing data.CBRE for commercial leasing activityCushman & Wakefield for commercial rents and inventory.Audience Research and Analysis for 2013 tourism estimate.

Alliance for Downtown New York, IncUnited States Census BureauNew York State Department of LaborMetropolitan Transportation AuthorityPort Authority of New York and New JerseyTrust for Governors IslandBrookfield Office PropertiesHoward Hughes CorporationSilverstein Properties, Inc.Westfield Group

ART DIRECTION: Rogers Eckersley DesignDESIGN: Bathsheba Parker - The Alliance for Downtown New York, Inc.

FULTON TRANSIT CENTER

Aug 10, 2013

LOWER MANHATTAN

LAUNCHLM: BUILDING A COMMUNITY OF INNOVATORS

A PLACE FOR EVERYONE

YOU CAN GET THERE FROM HERE

RENAISSANCE ON THE WATER

LOCATION, LOCATION, LOCATION!

FROM WALL STREET TO WIRED STREET

A WORLD-CLASS DESTINATION

A YEAR OF SERVICE

THE ALLIANCE FOR DOWNTOWN NEW YORK FINANCIAL STATEMENTS

BOARD OF DIRECTORS

THE RETAIL REVOLUTION

FROM RENDERINGS T0 REALITY

p.7A MESSAGE FROM THE CHAIR & PRESIDENT

p.12

p.10

p. 38

p. 42

p. 44

p. 46p. 30

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THE METAMORPHOSISOF LOWER MANHATTAN

p.40

CONTENTSTurn The Page: Lower Manhattan’s Moment Has Arrived

ADNY Annual Report, 20134 ADNY Annual Report, 2013 5

ADNY Annual Report, 2013 7ADNY Annual Report, 20136 ADNY Annual Report, 20136

The moment has arrived. For the past 12 years, you may have heard about the vast possibilities for renewal and growth in Lower Manhattan. You may have read about the many extraordinary projects that could collectively alter the economic, social and cultural fabric of a place with a singular history and a tenacious spirit. You may have discerned these changes were afoot, but wondered when they would morph from promised visions into bold reality.

The answer is: right now.A remarkable transformation that has been unfolding

for more than a decade — often underground and behind fences — is now visibly taking shape. As $30 billion of public and private investment comes to fruition, Lower Manhattan is moving from an era of promise and planning to an era of realization. As more and more businesses and residents move south of Chambers Street — as the cross-section of companies and people becomes ever more dynamic and diverse — Lower Manhattan is fulfilling its potential as a modern, 24/7, 21st century central business district.

Signs of progress are everywhere — new o�ce and residential towers, the proliferation of 1.5 million square feet of new retail, a surge in hotel construction, a stunning waterfront renaissance, soaring student enrollment, a continual influx of residents, a tourism boom and a growing number and variety of firms making Lower Manhattan their home.

At the World Trade Center site, an ambitious vision is vividly materializing. One World Trade Center reached a physical and symbolic peak last year when it was o�cially declared the tallest building in North America, standing at 1,776 glorious feet. Another milestone came with the November opening of Four World Trade Center, a pioneering model of environmental sustainability. The dramatic winged form of the World Trade Center Transportation Hub emerged from the construction site in 2013, a tangible testament to the many strides made in the last year. And in spring of 2014, the much-anticipated National September 11 Memorial Museum opened its doors.

Other major projects took significant steps this year, including the radical redevelopment of Brookfield Place, the remaking of Pier 17, Westfield World Trade’s expansive retail complex and the Fulton Center transportation hub. The Alliance has championed the completion of Fulton Center and is thrilled to see it open its doors in June 2014. Through our research, advocacy, communications and marketing e�orts, we are proud to have provided valuable support to each of these vital initiatives.

The Alliance for Downtown New York is working

diligently to continue to advance the metamorphosis of Lower Manhattan. Whether promoting the growth of retail, nurturing commercial tenancy, boosting tourism, improving parks and green spaces, o�ering a free seven-day-a week bus service or providing public safety and sanitation services — we are dedicated to making the district a thriving and welcoming place for all.

Collaborating with a broad range of partners in the private sector and government, we help the district meet difficult challenges and seize pivotal opportunities. We had the honor of working with Mayor Michael Bloomberg for 12 years to obtain many of our goals. His leadership on a range of issues important to Lower Manhattan is deeply appreciated. We now look forward to a dynamic and creative relationship with New York City’s new leader, Bill de Blasio.

In the past year, we embarked on several exciting initiatives to capture the spirit of innovation that is enlivening the neighborhood. We teamed up with a compelling array of stakeholders to kick o� a major program called LaunchLM

to help cultivate a burgeoning new tech and creative community. Our growing WiFi network provides 1.2 million square feet of free coverage along Water Street between Whitehall and Fulton Streets; on popular neighboring side streets, including Stone Street and Front Street; and along the East River waterfront and piers.

To keep the streets cleaner and greener, we installed 169 solar-powered trash cans and 16 recycling cans throughout Lower Manhattan. Called “Big Bellies,” the trash receptacles hold five times as much trash as regular containers and automatically compact the refuse when it reaches a certain level; a GPS phone chip tells supervisors when a bag needs to be replaced. The Big Bellies are a green innovation. They have increased e�ciency, reduced the amount of bagged garbage and improved the appearance of the area’s sidewalks.

Lower Manhattan has weathered many storms over its 400 years and has mastered the art of reinvention. We stand poised to reap the benefits of a colossal commitment of financial capital, human labor and audacious optimism. The area’s next chapter brings unparalleled change and enthusiasm. Turn the page to find out more.

Jessica Lappin Robert R. DouglassPresident Chairman

A MESSAGE FROM THE CHAIR & PRESIDENT

1 WORLD TRADECENTER

May 10, 20131 WORLD

TRADECENTER



FROM WALL STREET TO WIRED STREET

600+ Technology Companies

A small sampling

of the tech,

advertising, media

and information

companies in

Lower Manhattan.

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Tech leasing in Lower

Manhattan increased

dramatically between

2011 and 2013.

When you ask many people what comes to mind when they think of Lower Manhattan, two words often immediately tumble out: “Wall Street.”

While banking and financial services remain an essential pillar of Lower Manhattan, the constellation of companies here is rapidly expanding. As more technology and media companies migrate south of Chambers Street, a new and vibrant community of innovators and creators is taking shape.

Last year, the number of tech companies in the district grew by 24 percent, from nearly 500 in 2012 to more than 600 today. Total leasing among tech companies in Lower Manhattan grew from 180,000 square feet in 2011 to 351,000 in August 2013, a 95% jump. But it’s not just start-ups — big creative firms, including publishing titans Condé Nast and Harper Collins and a subsidiary of Macmillan Publishers will all soon make Lower Manhattan their home.

To chronicle and explain the district’s burgeoning tech community, the Downtown Alliance released an original research report in October 2013: A Surge of Bits and Bytes: the State of Tech and Innovation in Lower Manhattan. Among other conclusions, the report found that the rise of tech downtown was spurred by a�ordable rents, a plethora of transit options, tech-friendly buildings with adaptable floor plates and a premier broadband infrastructure.

Whether providing analysis on tech, real estate, retail or other trends, the Downtown Alliance is the go-to resource for information about Lower Manhattan. Our research division issues regular reports, providing timely, in-depth data that promotes the district and helps a diverse spectrum — everyone from real estate brokers to entrepreneurs to those in the public sector — make crucial decisions in a rapidly evolving marketplace.

Our e�orts to support the growing tech sector do not stop there. Teaming up with a broad group of professionals, the Downtown Alliance is working to nurture this burgeoning industry and to stoke a surging spirit of entrepreneurialism and innovation. Last year, we developed a community-based initiative called LaunchLM that is uniting current and future creative

and technology companies to collaborate, share resources and ideas and forge new possibilities.

The Downtown Alliance is also dedicated to making Lower Manhattan fully connected, from curb to cube. In September 2013, then Mayor Bloomberg announced that the Downtown Alliance was awarded a grant to dramatically expand its free WiFi network along the Water Street corridor. The project, funded by the New York City Economic Development Corporation’s Wireless Corridor Challenge, is creating 1.2 million square feet, or 27.5 acres, of new wireless coverage.

Lower Manhattan’s appeal to innovators and creators is driven by a palpable sense of excitement that pulses throughout the district — an undeniable feeling of being at the center of where things are happening.

Source: Jones Lang LaSalle


STACK EXCHANGE O

FFICE


LAUNCHLM: BUILDING A COMMUNITY OF INNOVATORS

How can you create a community if you don’t know who your neighbors are or where your neighbors are? LaunchLM is providing an answer to that question.

Developed by the Downtown Alliance in collaboration with a group of technology, venture capital, urban planning and real estate professionals, LaunchLM aims to connect and support the growing tech community in Lower Manhattan.

The new program positions Lower Manhattan as an entrepreneurial laboratory of sorts — a testing ground for new ideas and models of collaboration among the city’s pioneering tech companies.

“Innovation has become part of the fabric of the district,” says Scott Anderson, a partner at Control Group and a member of the LaunchLM leadership council. “As a tech entrepreneur in the district, it’s exciting to know that I’m surrounded by a strong and vibrant group of like-minded people from a variety of industries.”

Convening some of the world’s leading technology experts, LaunchLM hosts lectures and panels on

everything from cybersecurity and “ethical hacking” to the intersection of tech and media. These events — plus meet-ups, parties, happy hours and “Tech Tuesdays” held at the Seaport— are unique opportunities for marketing, networking, creating partnerships and sharing resources. The initiative’s website, LaunchLM.com, serves as the program’s digital hub and features profiles of Lower Manhattan innovators; highlights details on workspaces, parks, restaurants, nightlife and events; and provides a myriad of ways to get involved with Lower Manhattan’s tech community. LaunchLM is headquartered at the Hive, the Downtown Alliance’s co-working space at 55 Broad Street.

Dan Chiu, LaunchLM leadership council member and founder of digital strategy firm HD Made, has big aspirations for the endeavor. “The dream would be that Lower Manhattan becomes the first place technology and media companies think about when they’re looking for o�ce space — that this is the place they want to be,” says Chiu.

For many, it already is.

ADNY Annual Report, 2013

TECHTUESDAY

EVENT

TECHTUESDAY

EVENT


1 WORLD TRADECENTER

May 10, 2013CITY HALL

PARK



The Alliance for Downtown New York’s WiFi network provides

1.2 million square feet of free coverage — along Water Street

between Whitehall and Fulton Streets; on popular neighboring

side streets, including Stone Street and Front Street; and along

the East River waterfront and piers. It is our effort to create a

seamless, unbroken sea of connectivity — from curb to cube and

classroom. Use your computer, tablet or smartphone to log on to

the network, named “#DwntwnAllianceFreeWifi.”

Wilmer Cutler Pickering Hale and Dorr LLP (WilmerHale) has provided pivotal support for the growth of the Downtown Alliance’s WiFi Program.

New Yorkers are being reintroduced to the grandeur of Lower Manhattan’s waterfront. A flurry of change is sweeping along the edges of the Hudson and East Rivers on Manhattan’s southern tip.

The remaking of the waterfront took several big steps last year — from the groundbreaking of Pier 17 at the South Street Seaport (see story on accompanying page) to the completion of the Lower Manhattan section of the East River Waterfront Esplanade. The $165 million esplanade runs from the Battery Maritime Building to Pier 35. In Lower Manhattan, it has created a flowing, scenic, easy-to-use public space with bikeways, pedestrian paths, a raised viewing platform and a pier with restaurants, ice cream stands and other o�erings. Connecting the esplanade to the Hudson River is a bikeway in Battery Park, being built by the Battery Park Conservancy; the first phase opened in spring 2014.

At one end of the esplanade is the Battery Maritime Building, where a major, $150 million project by developers Dermot Group and the Poulakakous family began construction in 2013. The site will feature a 61-room boutique hotel with a 10,000-square-foot rooftop bar and restaurant sitting atop the existing ferry terminal. The Dermot Group and Poulakakous family are also teaming up with the New York City Economic Development Corporation and the Battery Park City Authority on another big renovation at the long derelict

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Pier A. Work started last year on a 40,000-square foot restaurant complex named “Harborhouse at Pier A,” which is set for completion in 2014. The restaurant will bring Lower Manhattan residents, workers and visitors alike a biergarten, oyster bar, 100-seat fine dining restaurant, outdoor promenade, gallery space and music venue.

Just 800 yards from Manhattan, Governors Island is one of New York’s great outdoor experiences. A former military base, the island is undergoing an extensive renovation. In May 2014, New Yorkers can explore 30 acres of new parks as well as a 92-acre historic district featuring the island’s original buildings. For the first time ever, the island will be open seven days a week (with an expanded ferry service).

To promote the revitalization of the East River waterfront, the Downtown Alliance has worked for many years with many partners to invigorate the Water Street Corridor. We assisted New York City’s Department of Transportation in developing and implementing streetscape improvements, including two new pedestrian plazas at Gouverneur Lane and Coenties Slip and an expansion of the Water-Whitehall Plaza. We also supported and promoted “Water Street Pops!”, a series of special events and activities in Water Street’s privately owned public spaces (POPS), including outdoor music,

food tastings, fitness classes and much more. Our work along Water Street is rooted in two years of intense research and consensus-building that seeks to create a new identity for this important corridor, foster activity and steward public and private reinvestment in the area.

PIER 17 2.0Forget everything you knew about Pier 17. The

Howard Hughes Corporation held a groundbreaking ceremony in October 2013, marking the beginning of the reinvention of this popular site. Rising on the pier will be a new, 365,000 square-foot, glass-clad building with a diverse mix of new retail and dining. There will be a 1.5-acre rooftop deck and amphitheater that will hold up to 4,000 people for outdoor concerts. The new Pier 17, scheduled to be finished in 2016, promises to be a singular New York experience. The Howard Hughes Corporation has launched SEE/CHANGE, an ongoing cultural and entertainment program to enliven the surrounding neighborhood. In 2013, SEE/CHANGE featured an outdoor film series, a spin-off of Brooklyn Flea called SmorgasBar, a German biergarten and an ice skating rink.

PIER 17

EAST RIVER WATERFRO

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310,000 Employees in Lower Manhattan

86 of o ce space in Lower Manhattan

MILLION SQ. FT.

LOCATION, LOCATION, LOCATION! Lower Manhattan’s increasing commercial appeal

is undeniable: new businesses want to start here and existing ones want to move here. This is the place to be.

As a host of new and dynamic companies — from Harper Collins to Condé Nast to Revlon to Droga5 — join the ranks of long-established firms in Lower Manhattan — like Goldman Sachs, American Express and Moody’s Corporation — the area is realizing the vision of a cutting-edge, energetic, diverse 24/7 central business district. A vibrant mix of businesses, retail, bars and restaurants has helped spur the neighborhood’s budding evolution, infusing Lower Manhattan with new life and new possibilities.

Commercial leasing escalated throughout 2013, ending with the best-performing 4th quarter since 2006 and more than double the five-year average. Year-end leasing activity topped out at a 39% increase over 2012. The robust leasing was fueled, in part, by tenants absorbing large blocks of space. Three of the city’s biggest property deals last year took place within the district.

The biggest relocations in Lower Manhattan were

in Creative Services, Media and Advertising and included GroupM Worldwide, which signed a lease to move from Midtown to a 515,000-square-foot space at Three World Trade Center. Technology leasing in Lower Manhattan was up 122% over 2012.

The opening of Four World Trade Center last year added 2.3 million square feet of new o�ce space to the market, with nearly half pre-leased to the Port Authority of New York and New Jersey and the NYC Human Resources Administration. Despite new space coming online at a rapid clip, the vacancy rate has remained stable. More importantly, the demand for new o�ce space is robust. Part of the allure: pricing in Lower Manhattan remains extremely competitive — overall asking rents were $14 less per square foot than Midtown South and $21 per square foot lower than Midtown over the course of 2013.

The Downtown Alliance actively supported commercial tenancy in Lower Manhattan by, among many other things, providing a strong voice on the extension of leasing incentives. Assembly Speaker Sheldon Silver has long championed these tax breaks — which are vital to the health and growth of the district

— and Governor Cuomo recently signed them into law. To attract and retain businesses in Lower Manhattan, the Downtown Alliance also o�ers customized information for specific companies. And we provide technical services, including our retail opportunities map, our online incentives calculator and pedestrian counts for key locations.

As Lower Manhattan’s chief information clearinghouse, the Alliance produces a comprehensive collection of in-depth analysis, news and promotional materials — everything from electronic newsletters to maps to online market reports to original research (See panel on opposite page for a sampling of our collateral).We also highlight the district’s appeal for businesses with smartphone apps, email alerts and regular features on our website and social media channels. There are many rooftops in Lower Manhattan, and we are prepared to shout from all of them.

The Downtown

Alliance regularly

produces a wide

array of collateral

— everything from

maps to a shopping

and dining guide

to original research

reports that support

the retail sector in

Lower Manhattan.

Leasing by Industry 2013

Source: CBRE

ADNY Annual Report, 2013 21ADNY Annual Report, 20132 0 ADNY Annual Report, 2013 21ADNY Annual Report, 20132 0

LOWER MANHATTANVIEW

ADNY Annual Report, 2013 2 9

In February 2012, the building

reached the 56th floor.

Four World Trade opened in November

2013, the first building on the World

Trade Center site to be completed.

By October 2010, more than a dozen arches –

known as “backspans” – were installed to form

the southern portion of the oculus.

As of spring 2011, the steel installation

for the PATH mezzanine level was

nearly completed.

In March 2014, the first plat-

form of the new station was

opened to the public.

As of April 2014, the oculus began

to take its final shape.

Construction of the oculus —

a resplendent, steel-glass dome

— began in September 2011.

The center was set

to open in June 2014.

The oculus’ “sky reflector net” —

which will help redistribute

natural light — was completed

in June 2013.

Excavation and foundation work

began in February 2008.

By April 2010, the steel frame

for the lobby was completed.Four World Trade Center was designed

by Japanese architect Fumihiko Maki,

who strove to create a “minimalist

tower” with a quiet dignity. He first

unveiled his conceptual design for

the building in September 2006.

The MTA’s Fulton Center was designed by ARUP and

Grimshaw Architects to be a major transportation

nerve center and a grand civic space.

The World Trade Center Transit Hub

was designed by Spanish architect

Santiago Calatrava, who sought to

convey the idea of a bird taking flight.

Construction reached ground

level in August 2010.

The project broke

ground in January 2007.

The project broke ground in

September 2005.

4 WORLD TRADE CENTER

FULTON CENTER

2008 2010 201 2 2013

2007

2005

2010

2010

2011

2011

2013 20142014

2014 2014

WTC TRANSIT HUB

11 Subway lines

accessible

Grimshaw Architects to be a major transportation

300,000 Expected passengers

each day

100% of building’s power

comes from renewable sources

3.1 million worker

hours

11,000 tons of steel

977feet tall

3.1 3.1

1111

11,000

2.3 million rentable

square feet

65,000 Square feet of new retail and commercial space

150 foot-high “wings”

ADNY Annual Report, 2013ADNY Annual Report, 2013 2 62 5ADNY Annual Report, 2013 ADNY Annual Report, 20132 3 24

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STREET


ADNY Annual Report, 2013 31ADNY Annual Report, 20133 0

The roots of Lower Manhattan’s retail revolution began at

Century 21. The bustling department store on Cortlandt Street is

a Lower Manhattan legend famous for its vast array of discounted

designer merchandise. First opening in 1961, the flagship Manhattan

store quickly became a worldwide shopping destination. And it is still

hopping, drawing throngs of residents, workers and tourists alike.

A burgeoning residential population, strong tourism, rising student enrollment, unprecedented spending power, an unmatched and expanding transit network, an increasing and varied array of office tenants and 1.5 million square feet of new or repositioned retail coming online by 2016 — all of this adds up to one undeniable fact:

A retail revolution is sweeping Lower Manhattan. Most New Yorkers are, of course, familiar with Century 21 department

store — a storied city institution and must-see for any visitor to Lower Manhattan. The district is also home to more than 1,000 stores and restaurants that o�er a multitude of great food and shopping options. Joining them are several marquee retail developments underway at Westfield World Trade Center, Brookfield Place, Fulton Center and the South Street Seaport. These major projects will usher in a host of new stores and restaurants, dramatically complementing and reshaping the retail landscape south of Chambers Street.

That landscape is already changing before our eyes. A total of 83 new stores and restaurants opened in 2013, an 8% increase over 2012. 2014 promises even more. When the new space hits the pipeline, Lower Manhattan’s identity as a regional and international shopping destination will be indisputable.

The Downtown Alliance vigorously supports retail development and works to nurture foot tra�c throughout the district. We distributed 45,000 copies of our 2014 Lower Manhattan Shop Dine Guide last winter to promote area stores, restaurants, bars and cafés. Our annual holiday campaign — which is featured prominently throughout the neighborhood on outdoor newsstands, bus shelters, subway displays and PATH trains, as well as in print and digital advertising — encouraged everyone to take advantage of the growing menu of eating and retail options Lower Manhattan has to offer. We developed and distributed a new multilingual visitors’ guide and completely redesigned the “Plan Your Visit” section of our website to make it more visually appealing and easier to navigate. We also continued our “Downtown Deals” program, a free service that supports area retail and restaurants by allowing them to post and promote deals on our website. To spread the word beyond New York City, we attended two major industry conferences and highlighted retail development and investment opportunities through our membership in the International Council of Shopping Centers.

THE RETAIL REVOLUTIONBrookfield Place, formerly The World Financial

Center, is being completely reinvented and will

feature a host of dynamic and cutting-edge retail

possibilities: Michael Kors, Hermès, Calypso St.

Barth, Salvatore Ferragamo, Judith & Charles,

Scoop and Zegna. Hudson Eats, an upscale dining

terrace overlooking the Hudson River, will feature

fast-casual meals at chef-driven eateries, including:

Blue Ribbon Sushi, Umami Burger, Dos Toros

Taqueria, Chop’t, Dig Inn, Num Pang, Skinny

Pizza, Sprinkles, Little Muenster, Mighty Quinns,

Tartinery, Olive’s and Black Seed Bagels.

The redeveloped Brookfield Place will

also offer a spectacular series of arts and

cultural events as well as a 25,000-square-foot

French food marketplace called “Le District.”

Diners will also find six notable restaurants,

including Parm and Rosa Blanca. The site

will open in 2014.

Opening in 2015, Westfield World Trade

Center is positioned to be a magnetic new

destination, featuring an exciting mix

of 150 of the world’s most sought-after

fashion, lifestyle and technology brands.

It will also offer a rich collection of dining

opportunities and guest experiences.

Anchored by The Oculus, designed by

world-renowned architect Santiago

Calatrava, Westfield World Trade Center

will feature a sweeping, 350,000-square-

foot world-class space, with a major

street-level presence along Church Street,

Cortlandt Way and Dey Street.

$5.2 BILLION in annual spending

ADNY Annual Report, 2013 3 3ADNY Annual Report, 20133 2

A PLACE FOR EVERYONEMore and more New Yorkers are arriving at the same

conclusion: Lower Manhattan is not just a great place to work or visit or go out — it is an ideal spot to put down roots.

The area’s residential population has doubled over the past decade and continues to grow. An estimated 61,000 residents called Lower Manhattan home in 2013, spanning a wide demographic — hip, young singles; couples and families; and empty nesters looking to enjoy their golden years.

Highly educated, a¯uent and well-traveled, Lower Manhattan residents have shown a strong commitment to the area. Many who moved here as renters ended up buying homes.

The district is becoming increasingly family-oriented, with more and more couples and households with children. Lower Manhattan’s baby boom has helped spark a rise in private primary and secondary schools. Education is, in fact, a top priority for all ages. On average, 85 percent of all residents have a college degree.

The area has recently seen a big influx of students

at higher education institutions. The Downtown Alliance’s original research report, The Growth of Higher Education in Lower Manhattan, revealed that annual leasing to higher education tenants below Chambers Street increased by 82 percent since 2004, and student enrollment has nearly doubled since 2006, surging from 27,000 to almost 50,000.

The expansion of higher education is a�ecting Lower Manhattan in many ways — fueling leasing, spurring a diversification of the local economy, contributing to residential growth, attracting a new cache of retailers and bringing ambitious young men and women to study and reside here.

To continually enhance the quality of life for residents, students, visitors and workers, the Alliance ensures that Lower Manhattan’s public spaces are appealing and welcoming to all. Last year, our operations team maintained five parks (Bowling Green Park, Mannahatta Park, Edgar Park, Trinity Park/Plaza and Coenties Slip Park) and four pedestrian plazas (Water-Whitehall Plaza, Coenties Slip Plaza, Gouverneur Lane

GO

VERNORS

ISLAND

Plaza and Washington Street Plaza). This included installing 4,050 new plantings and caring for 78 tables and 234 chairs.

Our “Green Around Lower Manhattan” series featured four separate seasonal events with 700 attendees. We gave out more than 4,000 free geraniums to workers and residents during our annual “Adopt-a-Geranium” event in the fall. At our fall community planting, residents helped plant thousands of tulips at Bowling Green Park. In the spring, hundreds of volunteers planted more than 300 annuals at Mannahatta Park. At an E-waste recycling event we sponsored that was organized by the Lower East Side Ecology Center, residents discarded unwanted electronic devices.

We know that keeping Lower Manhattan’s public spaces verdant and beautiful is a top priority for all who live here, and we actively promote their preservation and expansion. In the summer of 2014, everyone will be able to enjoy one of New York’s most spectacular outdoor experiences, Governors Island, seven days

a week. Pictured below, the island is just 800 yards from Lower Manhattan.

We also recognize that, for many, the choice to live in Lower Manhattan is not just about convenience or cost or proximity to great restaurants, stores and cultural attractions — it is an intense loyalty and intrinsic sense of community that only grows stronger the longer you live here. It is this special quality we must all protect.

Lower Manhattan’s Higher Education Enrollment

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20132008



FULTON CENTER



YOU CAN GETTHERE FROM HERE

By train, by bus, by boat, by bike, or by foot — getting to, from and around Lower Manhattan is becoming easier and faster.

A wide-ranging, regional, multimodal transit system — with twelve subway lines, 30 bus routes, six ferry terminals, the PATH train, 25 Citi Bike stations and the Downtown Alliance’s free Downtown Connection bus service — makes Lower Manhattan an optimal location for workers, residents, students and visitors. It also puts the district in close proximity to some of the region’s fastest-growing and most talent-rich communities; eight out of the top 10 communities with the greatest population growth in college-educated adults are within a 30-minute subway or PATH ride of Lower Manhattan.

This vast network continues to expand, matching the area’s intensifying growth. A total of $5 billion worth of new transit infrastructure is coming online in 2015, including two new transit hubs at the redeveloped World Trade Center and Fulton Center.

Lower Manhattan will also be linked to the world: the Port Authority of New York and New Jersey has approved $1.5 billion in funding for an extension of the PATH train to Newark Liberty International Airport. This will mean a single train ride from Manhattan to a major international airport, dramatically increasing the ease and value of doing business in Lower Manhattan. The seamless, 2-mile extension will also spur economic development throughout Lower Manhattan, New York City and northern New Jersey.

The Downtown Alliance was an early and vigorous supporter of enhanced airport access for Lower Manhattan. We are committed to increasing mobility and convenience for all of our constituents. Our free bus service, the Downtown Connection, runs seven days a week and links South Street Seaport and Battery Park City. The buses stop at 37 key points around the perimeter of Lower Manhattan. Last year, the Alliance introduced seven new wheelchair-accessible, state-of the-art buses, and total ridership reached an estimated 700,000.

TRANSIT OPTIONS:

2PATH routes to NJ

12Subway lines

30bus routes

6ferry terminals & 13 routes

25Citi Bike Stations

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INVENTORY & PROJECTED GROWTH IN HOTEL ROOMS IN LOWER MANHATTAN

Source: The Alliance for Downtown New York

For the millions of tourists flocking to Lower Manhattan each year, there is one urgent question — where do I begin? The National September 11 Memorial? The Statue of Liberty? Ellis Island? The New York Stock Exchange? Federal Hall? Governors Island?

As the number of visitors to the district grows, the panoply of premier downtown attractions, museums and cultural landmarks is only becoming richer. In May, the National September 11 Memorial Museum opens its doors at the World Trade Center site. The National September 11 Memorial, just steps away, has drawn more than 11 million visitors since it began operating in September 2011. Coming in early 2015, the 120,000- square-foot observation deck at One World Trade Center will offer unbeatable, panoramic views 1,250 feet in the sky.

The square mile at Manhattan’s southern tip is also steeped in history — stories going back hundreds of years echo through the neighborhood’s winding streets. One of them, Stone Street, o�ers residents and visitors alike a relaxed and convivial atmosphere for outdoor dining on cobblestone streets. Classic architecture, extraordinary harbor views and a host of museums all add to the allure of a dynamic place with an intimate link to our nation’s past and our city’s future.

The hospitality industry is racing to keep pace with the growth of tourism in Lower Manhattan. Ten years ago, there were six hotels in Lower Manhattan; now there are 18, with 4,100 rooms. Over the next two years, the

A WORLD-CLASS DESTINATIONnumber of hotels is expected to nearly double, with 18 in the pipeline, seven of which will open in the next year.

Promoting and sustaining tourism is a top priority for the Downtown Alliance. We printed and distributed 500,000 maps for visitors last year, in addition to a range of other collateral, and operated tourism kiosks throughout Lower Manhattan. Our “Red coats” are 24/7 ambassadors around the district. At the 2013 U.S. Travel Association IPW trade show, we supported the district’s tourism industry by meeting with international tour operators to advocate for the development of tour packages focused on Lower Manhattan. We also continue working with national and international media to call attention to the district’s growth, spirit of resilience and top-notch cultural attractions.

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G O V E R N O R SI S L A N D

The scope of change sweeping Lower Manhattan is dazzling. From Battery Park to Chambers Street, from the Hudson to the East River, the spirit of reinvention and renewal is everywhere.

The impact of $30 billion in public and private investment made over the last decade is becoming visible in nearly every corner of this kinetic square mile at Manhattan’s southern tip. More residents and businesses are migrating south of Chambers Street, drawn by a�ordable rents, fantastic cultural events, top-notch stores and restaurants and an undeniable energy that courses through the streets.

THE METAMORPHOSIS OF LOWER MANHATTAN

F ULT ON CE N T E R & C OR BIN BUIL D ING

O pening in June 2014

A L OF T HO T E L O pening in 2014

4 Wo r ld Tr ade C en t er Completed in 2013

BR OOK F IE L D P L ACE O pening in 2014/2015

BAT T E RY M A R I T IME BUIL DING Completion in 2015

5 BE E K M A N S T R E E TCompletion in 2015

HOL IDAY INN ( WOR L D’S TA L L E S T )

O pening in 2014

H A MP T ON INN O pening in June 2014

P IE R AO pening in July 2014

BAT T E RY PA R K R E NOVAT ION

Completion in 2014/2015

GOV E R NOR S I S L A ND Completion in

2014/2015

70 P INEO pening in 2014

F OUR S E A S ON S HO T E L & R E S IDE NCE S Completion in 2016

S OU T H S T R E E T S E A P OR T

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P I N E S T R E E T




ADNY Annual Report, 2013 4 3ADNY Annual Report, 201342

A YEAR OF SERVICE

IN MEMORIAM: ELIZABETH H. BERGER (1960-2013)

IN 2013, THE ALLIANCE FOR DOWNTOWN NEW YORK….

Former President of the Alliance for Downtown New York Elizabeth H. Berger passed away on August 5, 2013, after a fight with pancreatic cancer. She was 53.

A tenacious advocate for Lower Manhattan, her fierce love for this neighborhood shone through in everything she did. In her years as President, her influence was wide and considerable. “Liz Berger’s passion, sophistication and drive shaped Lower Manhattan as surely as any skyscraper or bulldozer,” said Alliance Board Chairman Robert Douglass.

“Her strength as an advocate and strategist was only exceeded by her loyalty as a friend and her dedication as a mother and wife. She will be sorely missed.”

Starting at the Alliance in 2007, she played a pivotal role in the reimagining and rebuilding of Lower Manhattan after the 9/11 attacks. In 2012, in the wake of Superstorm Sandy, she led a multifaceted effort to help Lower Manhattan businesses and residents recover and get back on their feet. Under her leadership, the Downtown Alliance was recognized not only as a creative and e�cient provider of public services, but as a staunch and formidable advocate for the long-term interests of downtown.

Renowned for her indefatigable energy and exacting intellect, she was driven by a vision of Lower Manhattan as a place teeming with vitality and potential.

She is survived by her husband Frederick Kaufman, daughter Phoebe, son Julian, mother Anita and brother Gideon.

Liz’s passion continues to inspire Downtown Alliance staff members every day. In her honor, the Alliance worked with the city to create a fitting tribute: renaming Edgar Plaza “Elizabeth H. Berger Plaza.” The park is now scheduled to be redesigned, expanded and filled with new plantings and life — all improvements for which Liz herself advocated for many years.

When temperatures plummet — and everyone else rushes indoors — they stay outside. When snow piles up, they use shovels and snow-blowers and a collective determination to keep sidewalks clear. When litter lands on the asphalt, they sweep it up. And when crisis strikes — whether a lost child or a storm or a medical emergency — they are always there to help.

The Downtown Alliance’s operations team makes Lower Manhattan a safe and welcoming place for all. Every day, at 5 a.m., our 56 sanitation officers start servicing the district. They empty 219 trash receptacles, including 169 solar-powered “Big Belly” garbage containers and 16 recycling receptacles. They clean up gra�ti and repair street furniture.

The Alliance’s 57-member public safety crew works closely with the New York City Police Department to keep crime rates in Lower Manhattan among the lowest in the city. They also return misplaced cell phones, provide helpful advice and directions to residents and visitors alike and intervene when someone is in harm’s way.

Though they serve Lower Manhattan, the red-coated o�cers are known throughout New York City. They are our public face and perform a vital service that makes this district a better and brighter place every day.

QUICK THINKING & A CRISIS AVERTED

The woman was distraught. At around 3:15 p.m. on Monday,

October 14, 2013, near the intersection of Broadway and Wall St., she walked up to Downtown Alliance Safety O�ce Sylenya Price (pictured to the right). It was every parent’s nightmare — she had lost track of her son. She explained that the boy, who was autistic, had become separated from her when the doors of the southbound #4 train closed with him still on board.

Price acted immediately, notifying dispatch and providing a description of the boy. Safety O�cer Louie Soto (pictured to the left) was on bike patrol, when he heard the alert. He rushed to Bowling Green station, the next stop on the southbound train. Soto spotted a boy who fit the description and began speaking to him. He was soon reunited with his mother. Quick thinking on the part of these o�cers gave what began as a traumatic and fearful experience a happy ending.

Bagged & removed

1,460tons of litter

Cleaned up

2,235 incidents of gra ti

Logged

903,152contacts between public safety o cers & the public

Installed

4,050 new plantings

Made

3,678contacts with homeless individuals

Handled ridership of

700,000 on Downtown Connection buses

Maintained 5Parks & 4 Plazas


Amounts are summarized from the audited financial statements provided by Skody Scot & Company, CPAs, dated October 29, 2013.

The Alliance for Downtown New York Financial Statements

STATEMENTS OF ACTIVITIES

June 30, 2013 June 30, 2012

Support and Revenues

Assessment Revenues 15,774,950 13,000,000Other Revenues 3,750,024 3,323,243

Total Revenues $19,524,974 $16,323,243

ExpensesPublic Safety 3,404,653 3,123,129Sanitation 4,229,156 4,505,482Promotion and Marketing 2,354,837 2,794,783Economic Development 3,323,308 2,123,720Transportation 1,912,887 1,912,156Social Services 696,765 707,152Management and General 1,539,883 1,561,349Fundraising 21,691 17,612

Total Expenses $17,483,180 $16,745,383

Excess Revenues over Expenses $2,041,794 ($422,140)

STATEMENTS OF FINANCIAL POSITIONAssetsCash and Cash Equivalents 7,542,921 5,980,537Accounts Receivable 895,627 525,091Investments 0 0Property and Equipment 151,884 108,996Other Assets 400,533 363,318

Total Assets $8,990,965 $6,977,942

Liabilities and Net Assets

Liabilities 949,792 978,563Total Net Assets 8,041,173 5,999,379

Total Liabilities and Net Assets $8,990,965 $6,977,942

ADNY Annual Report, 20134 4

GEHRY BUILDING

& POTTER BUILDING


Robert R. Douglass, Chairman Milbank, Tweed, Hadley & McCloy LLP

Honorable Bill de Blasio Mayor, City of New York

David J. Arena JPMorgan Chase & Co.

Peter Braus Lee & Associates NYC LLC

Honorable Gale A. Brewer Manhattan Borough President

Harry Bridgwood New Water Street Corporation

Mark E. Brooks American International Group, Inc.

Honorable Margaret Chin Council Member, City of New York

Betty Cohen Century 21 Department Stores

John V. Connorton, Jr. Hawkins Delafield & Wood LLP

Charles C. Dorego Glenwood Management Corp.

K. Thomas Elghanayan TF Cornerstone

David V. Fowler The Bank of New York Mellon

Rachelle Friedman J&R Music and Computer World

Stephen J. Friedman Pace University

Timur F. Galen Goldman Sachs & Co.

Robert J. Giu�ra Sullivan & Cromwell LLP

Stanley E. Grayson M.R. Beal & Company

Francis J. Greenburger Time Equities, Inc.

Erik Horvat Port Authority of NY & NJ

Thomas M. Hughes Resident Representative

Richard T. Kennedy Cushman & Wakefield, Inc.

Stephen Le�owitz Fried, Frank, Harris, Shriver & Jacobson LLP

John “Janno” Lieber World Trade Center Properties, LLC

The Rev. Canon Anne Mallonee Trinity Wall Street

Catherine McVay Hughes Chair, Manhattan Community Board No. 1

Ross F. Moskowitz Stroock & Stroock & Lavan LLP

Cherrie Nanninga CBRE Group Inc.

Dr. Antonio Perez Borough of Manhattan Community College

Peter Poulakakos Ahead Realty/HPH

Mitchell E. Rudin Brookfield O�ce Properties

William C. Rudin Rudin Management Company, Inc.

Frank J. Sciame F.J. Sciame Construction Co., Inc.

Alan Scott Deutsche Bank

Michael A. Skidmore Skidmore Associates, Inc.

Allan G. Sperling Cleary Gottlieb Steen & Hamilton LLP

Maria Torres-Springer Commissioner, NYC Department of Small Business Services

Honorable Scott M. Stringer Comptroller, City of New York

Kent M. Swig Swig Equities, LLC

Jessica Lappin, President

BOARD OF DIRECTORS STAFFDan AckermanAlison BaumannAdam BernsteinBill BernsteinCharles BoveRenee BraunsteinAndrew BreslauNancy CascellaStacy ChiMary CliffordJoseph CurreriSarita DanRon DizonTom DunnArlene EganMargarita FernandoAdam FifieldTeresa FigarioRebecca FontanezDanny GiacomazzaJeannie GonzalezJarrod GrimHans GuillaumeShadendra HarrisDave HarvinSean HayesCarl HomwardEddie HudsonDwayne JacobsStephanie JenningsRon KearneyMichael KetringJoe LanaroJessica LappinNicole LaRussoJames McHughBathsheba ParkerRoe PerniceTaina PradoCraig RaiaAnthony RivettiChristine SapienzaJeremy SchneiderRichard SerranoFred ShamDaria SiegelJaclyn SlimmJoseph TimponeMaria Tirado-QuinonesAnja VojvodicRon WolfgangJane Wolterding


Adam Fifield & Andrew Breslau - The Alliance for Downtown New York, Inc.

IMAGE CREDITS

Additional Information Provided By:

Information Sources:

Writing & Editing

photos courtesy of Silverstein Properties, Inc. - Cover, 3, 5, 14, 21, 36.38, 23-26photos courtesy of Westfield Group - 4, 37 photos courtesy of Howard Hughes Corporation - 5, 17 photos courtesy of Metropolitan Transportation Authority - 4, 34, 23-26photos courtesy of Century 21 - 30photos courtesy of Brookfield Office Properties - 31 photos courtesy of Port Authority of New York and New Jersey - 23-26 Joe Woolhead - 8, 23-26 Marilynn K. Yee/The New York Times/Redux - 43

“Rite of Summer” photo courtesy of govislandblog.com - 32Phillip Greenberg - 5, 10, 16, 44Jaclyn Slimm - 5, 12, 13Jennifer May (jennifermay.com) - Pages 4, 6

Jones Lang LaSalle for technology sector leasing data.CBRE for commercial leasing activityCushman & Wakefield for commercial rents and inventory.Audience Research and Analysis for 2013 tourism estimate.

Alliance for Downtown New York, IncUnited States Census BureauNew York State Department of LaborMetropolitan Transportation AuthorityPort Authority of New York and New JerseyTrust for Governors IslandBrookfield Office PropertiesHoward Hughes CorporationSilverstein Properties, Inc.Westfield Group

ART DIRECTION: Rogers Eckersley DesignDESIGN: Bathsheba Parker - The Alliance for Downtown New York, Inc.

ADNY Annual Report, 20131

The mission of the Alliance for

Downtown New York is to provide

service, advocacy, research and

information to advance Lower

Manhattan as a global model of

a 21st Century Central Business

District for businesses, residents

and visitors.

Alliance for Downtown New York, Inc.120 Broadway, Suite 3340New York, New York 10271

www.DowntownNY.com

downtown alliance 2013 annual report

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