NEW YORK CITY-The Alliance for Downtown New York has issued aplan for transforming Water Street, a half-mile thoroughfareflanked by one-fifth of Lower Manhattan’s commercial real estate.It seeks to undo the unintended side effects of an early 1960srezoning—a too-wide boulevard that discourages pedestriantraffic—and to realize the street’s potential.

“Change is already under way on Water Street, but what we wantto do is catalyze it,” Elizabeth Berger, president of the DowntownAlliance, tells GlobeSt.com. “We’re suggesting four big things.One, the street has to be re-scaled and made pedestrian-friendly.”At present, the street is four lanes wide; among other things, thealliance’s report, “Water Street: A New Approach,” recommendsnarrowing it to two vehicular lanes while adding a medianthroughout its length.

According to the report, “Almost no one walks along Water Streetfor more than two consecutive blocks. The pedestrian traffic thatexists moves primarily across the street, but the width andvehicular speeds make the crossing feel unsafe. There are fewamenities or retail options available even in areas of high foottraffic.”