VACANT OFFICE SPACE
Aligned with Carbon Zero's "use what exists" mantra, FiDi's vacant office spaces will host exhibits showcasing innovative solutions, offering a modern twist on the trade mart.
| SUPPLY | Inventory | Vacant |
|---|---|---|
| Finance West | 6,211,658 sf | 2,103,351 sf |
| Insurance | 12,587,451 sf | 4,678,003 sf |
| World Trade | 24,144,411 sf | 4,814,215 sf |
| Finance East | 29,924,952 sf | 7,966,073 sf |
| Totals | 72,868,472 sf | 19,561,642 sf |
| DEMAND | AREA Needed |
|---|---|
| Carbon Zero Direct | 2,000,000 sf |
| Carbon Zero Indirect | 3,000,000 sf |
| Totals | 5,000,000 sf |
HIGH VACANCY
Chronic office vacancies pose a problem, but also offer space for unique events. (Source: Cushman Wakefield Q1 2024)
SUBSTANTIAL SUPPLY
NYC's vacancies are a challenge, but provide room for innovative events. (Source: Cushman Wakefield Q1 2024)
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High Vacancy Means Options for Showrooms
Vacant office spaces offer significant flexibility for use as showrooms, allowing companies to showcase their products in dynamic, adaptable environments. This approach not only optimizes unused real estate but also drives demand for related office space, creating a synergy between exhibitions and business operations. Similar to London's Design Centre Chelsea Harbour, these showrooms will become a hub for innovation, attracting industry leaders and generating economic growth.
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Carbon Zero Projects Demand for 2 Million Square Feet
With such an oversupply of uncompetitive vacant space, Carbon Zero expects to have extensive flexibity with establishing showrooms and other uses.
URBAN AGRICULTURE
Year-round growth, local food security, and new local job opportunities.
WORKING WITH CO2
Turning emissions into materials for building and manufacturing.
WATER INNOVATION
Purification and sustainability through displays and expert-led workshops.
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Urban Farming: Growing Food, Jobs, and Sustainability in Cities
- Brand visibility
- Industry connections
- Media and investor attention
- NYC’s climate leadership
- Economic growth and job creation
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Carbon Zero Industries
arbon-based processes convert CO2 emissions into valuable materials for construction and manufacturing.
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Water Innovation
Water reclamation, purification, and sustainable practices through interactive displays and expert-led workshops.
Other Urban Assets
Carbon Zero’s strategy revitalizes urban spaces while generating revenue for maintenance. Pop-up opportunities may follow models like Urban Space in Union Square and Bryant Park. Learn more in the facilities strategy.
| Alleyways and Narrow Streets FiDi's underutilized alleyways, such as 6 Dutch Street. |
| Vacant Retail Vacant spaces along Fulton and Nassau Streets with a 22% vacancy rate. (Source: Broadsheet) |
| Public Spaces Historic sites like Golden Hill Plaza could host privately funded installations. |
| Under the FDR Planned new park and flood protection infrastructure as part of the LMCR Project. |
| Vacant Land and Parking Lots Lots like Gotham Parking could be repurposed for public exhibits. |
| Large Facilities Locations like Winter Garden and Pier 17 could host temporary exhibits. |
| Educational Facilities Summer use of spaces like Pace University for sustainable projects. |
| Privately Owned Public Spaces (POPS) Publicly accessible but privately maintained spaces like 59 Maiden Lane. |
| Street Parking Sheds Inspired by NYC’s Open Restaurant Program, proposes adaptable shed structures. |
PEDESTRIANIZED STREETS
For years, New Yorkers have advocated for pedestrianizing parts of FiDi, but the economic case was weak. Now, with high office vacancies, pedestrianization is not just viable—it's essential for real estate competitiveness. Inspired by the Make Way for Lower Manhattan plan, Carbon Zero City supports selectively pedestrianizing key streets (recommended, not required).
| Increased Foot Traffic & Retail Sales More pedestrians boost visibility, driving higher sales for shops and restaurants, encouraging premium leases for commercial spaces. |
| Higher Property Values Pedestrian-friendly areas enhance appeal, driving up property values and creating a desirable environment. |
| Tourism Growth Pedestrian zones improve tourist experiences, increasing spending and bolstering local tourism industries. |
| Attracting Investors & Job Creation Car-free zones attract businesses, leading to investments and job growth across sectors. |
| Reduced Infrastructure & Energy Costs Less traffic lowers road maintenance and promotes energy savings by encouraging walking. |
| Improved Quality of Life & Environmental Benefits Reduced traffic improves air quality, public health, and talent retention, creating better living and working conditions. |
| Pedestrianized Success stories |
|---|
| Times Square, New York Foot traffic surged by 300%, raising retail rents and establishing it as a top global commercial hub. |
| Bourbon Street, New Orleans Boosted tourism and nightlife, generating significant revenue for the city’s entertainment sector. |
| Carnaby Street, London Revitalized retail and fashion with increased foot traffic, raising property values and sales. |
| Strøget, Copenhagen Major pedestrian street that enhanced economic activity and retail sales. |
| Istiklal Avenue, Istanbul Cultural and commercial hub driving growth in retail and tourism. |
| Orchard Road, Singapore Transformed into a premier shopping destination, boosting retail revenue and tourism. |
| La Rambla, Barcelona Key cultural node that increased tourism and revenue for local shops and restaurants. |
| Grafton Street, Dublin Became a major shopping artery, driving retail and commercial investment. |
| Nanjing Road, Shanghai Top shopping street in China, fueling retail and tourism growth. |
| Takeshita Street, Tokyo Vibrant youth culture hub, boosting retail and tourism. |
Successful Pedestrianizations. Source: Various.
Urban Hub Network
Carbon Zero City's Urban Hubs support the carbon cluster by managing micro-cargo, transit, waste, and sanitation. These reduce GHG production, and enable operations in a climate changing world. These hubs enable creation of pedestrian zones and improving certain city functions.
| Possible Components |
|---|
| Micro Mobility Offers bike sales, rentals, repairs, and secure parking, promoting cleaner, congestion-free travel. |
| Micro Cargo Addresses waste and rising package delivery demand, leveraging waterways to improve efficiency. |
| Micro Waste Stations Innovative waste management hubs that handle delivery and waste removal efficiently. |
| Public Toilets Expands access to sanitation for tourists, workers, and vulnerable populations. |
Pedestrianization of William Street.
Pedestrianization enhances street appeal and increases foot traffic. It attracts tenants, raises occupancy rates, and elevates property values, particularly in areas with high vacancies.
↑ Pedestrianization of John Street near Broadway.
Metaverse Component
The metaverse is part of Carbon Zero City's "urban nervous system," using AI, AR, and VR to promote climate solutions. It reduces CO2 by minimizing physical interactions, showcases carbon-zero products globally, and offers real-time climate simulations, enhancing engagement and sustainability efforts.
| PROSPECTIVE COMPANIES |
|---|
| Meta Leading in virtual space innovations that decrease travel and emissions. |
| Microsoft Integrates mixed reality into urban planning and training. |
| NVIDIA Supports architects with the Omniverse platform for sustainable design. |
| Unity Technologies Provides 3D solutions for realistic urban simulations. |
| Epic Games Develops complex simulations for disaster management and urban planning. |
