London-NY Dialogue
The cities of London and New York have become increasingly dominant global centers of finance, media and services. This trend has surprised the skeptics of a decade ago then forecasting decline for the two cities. Will their ascent continue? And what implications does it have for the two cities and others around the world?
Project Outline
Click images to view full size
In 2000 a team of academics and public policy-makers in London and New York produced a groundbreaking study of the economies of the two world cities. What stood out was the ‘striking parallels between the two cities’, in terms of drivers of economic growth and the ‘problems of success’ which both faced in managing that growth. In many areas, the cities had much more in common with each other than with the rest of the their own countries.
Renewed focus on the London–New York axis has led the Urban Land Institute, in cooperation with New York University and London South Bank University, to revisit the topic with the original project team.
This work started with the 2008 review of the state of the cities by Greg Clark, a director of the original study, which shows that the key trend driving the economies of London and New York—their leadership in the globalisation of world markets—continues, as do the challenges presented by the growth of major cities in emerging world markets.
Preliminary dialogues were held in London and New York in January 2008, at which we asked over 30 senior businesspeople for their input to the London–New York agenda. A wide list of topics was narrowed down through discussion to a number of key practical questions.
London Dialogue Chairs
Dame Judith Mayhew Jonas DBE, London, UK and Jonathan Short, Funding Partner & CEO, Internos Investors, London UK
New York Dialogue Chairs
Robert C Lieber, Deputy Mayor of New York City-Economic Development, New York, USA and Carl Weisbrod, President of Trinity Real Estate, New York, USA
2008, Phase 1
Work will now begin on taking some of these topics forward, using analysis and solutions from experts in both cities. Phase 1 of the work will report at the London New York Dialogue Conference on the 18th of November 2008 at the Plaisterers’ Hall in the City of London. Phase 1 will include:
Comprehensive research by participating academic institutions addressing the following questions:
-
The urban economies: How have the cities’ economies changed since 2000 report?
-
Housing markets: How can the cities provide housing which their workforces can afford?
-
Lessons for world cities: What can other cities learn from London and NY? What can London and NY learn from other cities?
Workshops bringing together small groups of experts and professionals from each city to discuss:
-
How have the cities experienced the rise of digital media?
-
How can the electricity infrastructure continue to meet demand – especially in light of the changing pressures on supply due to environmental considerations?
-
How sustainable are the cities? How can they take steps to make the built environment more sustainable? What are the best methods for financing and implementing retrofitting to make existing buildings greener?
The London New York Dialogue Conference
18 November 2008, Plaisterers’ Hall, One London Wall, City of London
Phase 2
These other key topics will be the subject of further work and dialogues in 2009:
Infrastructure
-
How can London and New York ensure adequate finance for their transport systems’ maintenance as well as new projects?
-
How will technology affect the cities’ ability to impact traffic congestion?
-
What steps should the cities be taking to manage airport congestion?
Development
-
What is the net property taxation and its impact on development in the cities?
-
Is there anything the cities can do to mitigate the steep rise in construction costs due to a variety of major projects coming onstream at the same time?
Immigration
For more information E-mail: londonnewyork@uli.org