Summary of Demographic Characteristics

• There are currently an estimated 36,000 people living south of Chambers Street.

• By 2007, the population Downtown is expected to grow to 40,000.

• Lower Manhattan residents have an average annual household income of over $152,000.

• The mean age is 44, with 43 percent of the population between the ages of 30 and 44.

• 81% of Lower Manhattan households are childless, a fact that contributes to their increased disposable income.

• Most Lower Manhattan residents are highly educated professionals many of them employed in finance and business services.

Implications for Retail

• The area south of Chambers Street is becoming a viable alternative to more traditional residential neighborhoods such as Tribeca and SoHo. This suggests growth potential for home furnishing and home goods retailers, galleries, and increased dining options.

• Other types of retail can be supported by aggressive population growth. Destination retailers such as those offering personal services (such as video stores, salons, and dry cleaners), and take-home food are potential tenant categories for locations that are not highly trafficked.

• The average household income of residents in Lower Manhattan indicates the potential for spending on high quality merchandise and food offerings.