Business Improvement Districts in New York City’s Low- and High-Income Neighborhoods *

Traditional economic development efforts in downtowns across the United States have often been based upon a “field of dreams” approach, which suggested, “if you build it they will come.” At its most basic level, these physically oriented tactics were premised on a logic suggesting that if you constructed a physical environment that was visually appealing, generated a feeling of safety, and was accessible, then business and consumers would likely follow (Downs, 1979). The problem with this approach is that after you build it, it must be maintained—in good times and in bad.