Milestone
$19B
Citywide damages and lost economic activity from Hurricane Sandy
The Financial District and Seaport Climate Resilience Plan is a joint effort led by New York City Economic Development Corporation (NYCEDC) and the Mayor’s Office of Environmental Justice (MOCEJ) to transform the waterfront, creating a place that better serves current and future generations of New Yorkers. The Master Plan, which outlined a conceptual design for protecting Lower Manhattan from sea-level rise and coastal storms, was released in December 2021. Since the release of the conceptual design, the design has continued to be advanced and refined to respond to stakeholder needs, technical constraints, and regulatory considerations.
Citywide damages and lost economic activity from Hurricane Sandy
NYC is increasingly vulnerable to flooding due to climate change. More intense coastal storms, rising sea levels, and extreme precipitation are already causing flooding across New York City. By the 2040s, Lower Manhattan’s shoreline will begin to experience frequent tidal flooding from sea-level rise, impacting streets, sidewalks, buildings, and critical infrastructure.
Lower Manhattan plays a critical role in New York City’s economy, serving as one of the largest business districts in the country. This economic powerhouse fuels the city and the region at large, making it indispensable to New York’s overall vitality. Additionally, as a major transportation hub, Lower Manhattan provides connections across all five boroughs and the tri-state region through a robust network of subways, ferries, roads, and bike paths. Millions of people travel through Lower Manhattan by rail, bus, car, and ferry every day.
Lower Manhattan is also more than just a business district—it’s a regional center of culture, community, and civic life with a growing residential community and a destination for students and visitors. In recent years, Lower Manhattan has seen a transformation into a vibrant, mixed-use community. With a 170 percent increase in its residential population over the past two decades, it now offers amenities for residents, students, workers, and tourists. This evolution has made it not just a place to work or commute through, but a thriving neighborhood that meets the needs of a growing and diverse population.
Lower Manhattan by the Numbers
Annual visitors
Estimated tax contributions
Daily subway, PATH train, and ferry riders
Annual visitors
Daily subway, PATH train, and ferry riders
Estimated tax contributions
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