Downtown areas have been ready for a resurgence for a decade, and it looks like revitalization projects across New York are building momentum. Revitalization of any urban area is a complicated task that requires collaboration between local government, real estate developers, business owners, as well as various other interested groups and non-government organizations. When planning goes well, areas see an increase in jobs, housing saturation, tourism, and adoptive residents moving in from other areas.
As young professionals and young companies alike opt for an active, urban environment over the car-dependent realm of the suburbs, real estate developers are investing more in residential, office, and retail spaces in downtown areas for the growing influx of people.
In 2011, Governor Cuomo developed the Regional Economic Development Council (REDC) for New York, which breaks up the state into ten smaller regional group to each develop long-term strategic plans for economic growth.