Valuing Central Park's Contributions to New York City's ... - Appleseed

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Notable events in Central Park’s history 1858 The Board of The Commissioners of The Central Park choose the Greensward plan submitted by Frederick Law Olmsted and Calvert Vaux for the design of America’s first major urban public park 1858 The Park first opens for winter skating on the Lake 1863 The City extends the boundaries of the park, bringing the total acreage to 843 1873 Landscapes in the Park are completed 1876 The six-mile perimeter wall is completed 1931 The 35-acre lower reservoir is drained 1934 Robert Moses begins the longest tenure as Park Commissioner in New York City history 1937 The Great Lawn opens on the site of the former receiving reservoir 1957 Shakespeare in the Park begins 1970 The first NYC Marathon is held entirely in Central Park 1979 Elizabeth Barlow Rogers is appointed as the first Central Park administrator 1980 Central Park Conservancy begins maintaining and improving the Park; William S. Beinecke becomes the first Chairman of the Board 1981 Sheep Meadow is opened to the public, the first major improvement to Central Park in two decades 1983 Belvedere Castle, which had become badly deteriorated due to vandalism, is reopened by the Conservancy after an extensive restoration; the restored Conservatory Garden opens as the first landscape improvement in the north end of the Park 1985 After three years of studies, the Conservancy publishes Rebuilding Central Park, the management and restoration plan for Central Park; Strawberry Fields opens due to a gift from Yoko Ono Lennon 1991 The North Meadow Recreation Center and youth programs are created 1993 The Charles A. Dana Discovery Center and the restored Harlem Meer open to the public after an extensive restoration by the Conservancy and the City of New York 1995 The Conservancy institutes the Zone Management System for Central Park 1997 The $18.2 million, 55-acre restoration of the Great Lawn and its surrounding landscapes is completed 1998 The Conservancy and the City sign a management agreement formalizing the 18-year public-private partnership 2004 The Campaign for Central Park is launched by President Douglas Blonsky in order to complete the transformation of the Park 2005 The Gates, an art installation by Christo and Jeanne-Claude, opens in Central Park, drawing an estimated 4 million visitors 2006 New York City extends the Conservancy’s management contract under Mayor Bloomberg and Parks Commissioner Adrian Benepe for eight more years 2007 The Conservancy reopens the Bethesda Terrace Arcade after completing an intricate restoration 2010 Projected date of completion of the Lake, the largest and most costly restoration project in the Park’s history
Highlights Since its creation 150 years ago, Central Park has been among New York City’s most valuable assets. The Park’s value to the City’s economy can be viewed from several perspectives. Central Park is: • • • • • A cluster of enterprises, events and activities connected to the Park that together generated $395 million in economic activity in 2007, and 3,780 full-time-equivalent jobs; A public space around which the many of New York’s leading hotels, cultural institutions and corporate headquarters are concentrated; A source of added value to the City’s most valuable real estate; we estimate that in 2007 the “Central Park effect” added $17.7 billion to the market value of properties near the Park – a premium equivalent to approximately 8 percent of the total value of all Manhattan real estate; A recreational, educational and cultural resource for the surrounding communities and for all New Yorkers; and A generator of tax revenues for City government; we estimate that City tax revenues related to Park operations, visitor spending and increased real estate values totaled more than $656 million in 2007 – an amount roughly equal to the total annual cost of the entire Parks Department. Central Park as a cluster of enterprises, events and activities • Through its spending on payroll, purchasing and construction, the Central Park Conservancy in 2007 directly and indirectly accounted for approximately 480 full-time-equivalent jobs in New York City, and $43.5 million in overall
Page 1: Valuing Central Park’s Contributi
Page 4 and 5: economic impact analyses) to estima
Page 6 and 7: “The primary purpose of the Park
Page 10 and 11: 10 • • • • economic output.
Page 12 and 13: 12 a venue for fund-raising events
Page 14 and 15: Central Park: At A Glance • •
Page 16 and 17: 16 around the Park. Part Five brief
Page 18 and 19: “Looked at from a commercial stan
Page 20 and 21: 20 Outside New York State 22 employ
Page 22 and 23: 22 Project Cost The Lake restoratio
Page 24 and 25: Drawing visitors for 150 years Cent
Page 26 and 27: 26 The world’s largest marathon -
Page 28 and 29: 28 Lights, camera, Central Park! Th
Page 30 and 31: 30 Fig. 6. Museums by attendance wi
Page 32 and 33: “It is the one great purpose of t
Page 34 and 35: 3 Making History: Ice Skating in Ce
Page 36 and 37: 36 Helping to improve historic park
Page 38 and 39: 38 The Angel of the Waters Among th
Page 40 and 41: “[T]he financial condition of the
Page 42 and 43: 2 Rest of New York City $456 billio
Page 44 and 45: Block groups Lot square feet Premiu
Page 46 and 47: 6 Fig. 13. Map of high-rent retail
Page 48 and 49: 8 120% 100% 80% 60% 40% 20% 0 Block
Page 50 and 51: “The Park... has had a very marke
Page 52 and 53: 2 Direct Indirect/ induced Total NY
Page 54 and 55: “The Park is so potent a force in
Page 56 and 57: 6 is not something that is fully ca
Page 58 and 59:
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