Experts: New Neighborhood Could Potentially Bring In $16.7 Billion To NYC

NEW YORK (CBSNewYork) — We have SoHo and NoHo. Now there’s talk of “LoLo.”

It’s the new neighborhood that would be developed along the southern tip of Manhattan.

Lower Manhattan is famous for finance. Just off-shore, approximately a half-mile away, Governors Island is a 172-acre military post turned recreation destination. A new proposal would connect the two in order to create a new neighborhood called “Lower, Lower Manhattan” or “LoLo” for short, reports CBS 2’s Elise Finch.

“It would be housing, office spaces, schools. It would be an extension of our city and it would have all the different uses that we’ve come to love in Manhattan, but we also think we can build a lot of green infrastructure that we don’t have right now,” said Vishaan Chakrabarti of the Center for Urban Real Estate at Columbia University.

Chakrabarti said over the next few decades the Army Corps of Engineers will dredge New York Harbor to improve shipping channels. The dirt and mud they unearth can be used as the foundation for this new neighborhood.

“About 10 percent of Manhattan is landfill. It’s very much a part of the history of our city and Battery Park City was built from the construction dirt from the World Trade Center site, the original World Trade Center. Governors Island, itself, about half of it is landfill from the Lexington Avenue subway construction,” Chakrabarti said.

New Yorkers seem to love the idea.

“If they decide it’s good for Manhattan, people, then yeah,” one person said.

“It seems like a good idea to recycle and use whatever resources we have,” another said.

“If it was done at Battery Park and it worked, we could definitely use the space,” another said.

The Columbia University team admits this would be an enormous undertaking, requiring billions of dollars and at least five years just to get permits in order. But, they said it would generate $16.7 billion in revenue for the city and that would be good for all New Yorkers.

The proposal has not been presented to city officials yet, but this and other ideas developed at the Center for Urban Real Estate will be detailed in a report released next year called “NYC-2040.”

Do you like this idea? Please offer your thoughts in the comments section below.

Comments (16)
  1. Meme Meyagi says:

    what is done about 7 million mooslime terrorists living in usa?



  3. bloomberg says:

    Please copy and repost.
    In September 2007, the Equal Employment Opportunity Commission filed a class-action lawsuit on behalf of more than 80 female employees, Bloomberg L.P. engaged in a pattern of discrimination against pregnant women who took maternity leave. Michael Bloomberg is responsible for the creation of the systemic, top-down culture of discrimination’ at the company.
    This is the same idiot mayor who says we can’t smoke in the parks.
    I guess shortchanging women is more socially acceptable than smoking.

  4. CT says:

    If it’s feasible, do it.

  5. pugphan says:

    This seems like a plan to turn the place over to developers, the deal is set, and now all that’s needed is to hoodwink the peeps. Now were going to get inundated with all kinds of bs about this…every freaking day. smokersodysseycom

  6. The Realist says:

    Who plans to PAY for this? Will the subway be extended? Will the Staten Island Ferry terminal be moved to the new southern tip? Will cruise ships still be able to dock in NYC?

  7. DrClaw says:

    Just what we need…a glorified Battery Park City with buildings whose foundations are anchored by condensed landfill , and not stable bedrock.

  8. Avi says:


  9. CH says:

    I am one New Yorker who HATES the idea and thinks it is the worse thing that could be done with the island. The one thing we do NOT need more of is Manhattan. More rich-boy playspace. Ugh.

    1. ttrue nyc says:

      Yes we do d!ck head. Move to Alabama if rent is to much for you loser.

  10. Bloomy Finally has a good Idea says:

    I don’t see any reason why this would not hydrologically, and/or, geologically work, What I mean is, water seeks its own level, Period. There is a real need for employment, a few oscar meyer liquid beef, billboards, posted along the way, will only accomodate the times…..

  11. Dave Frieder says:

    Leave the damn island alone! Quit screwing it up! Idiots!!! If this keeps up the Hudson and East Rivers will be no more!

    1. Michael H. says:

      Actually, it’ll extend the rivers a bit as some of what is now Upper New York Bay would become portions of said rivers.

      1. CH says:

        The Hudson, at this point is an estuary. I hope they do a bit more research into the ecological impact that mucking around with such a fragile environment will cause. The Atlantic Sturgeon is in enough trouble without compromising this crucial area.

  12. Bloomy Finally has a good Idea says:

    A real Job creator…..Let us do it!!!


  13. Emma says:

    That’s a good plan. It seems to fit in well with all those reports about potential rising sea levels and more severe weather in the near future. I suppose living there would encourage people to learn how to swim really well and in open water. But I suppose as long as we get to spend billions moving dirt around it’s all worth it.

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