Canalside , formerly known as Canal Side and also referred to as Erie Canal Harbor , is a mixed-use recreational and entertainment district in downtown Buffalo, New York . It is the recreation of the western terminus of the Erie Canal , which was destroyed in the early 20th century. Canalside is situated on the Buffalo River , in an area that was historically home to the Seneca people .
160-409: In the early 20th century, the predominantly Italian area known as Dante Place and Canal Street was subjected to the forces of urban renewal , and the canals were filled in and dense neighborhoods were razed. The Buffalo Skyway , Buffalo Memorial Auditorium and Niagara Thruway took its place, with parking lots interspersed. With the completion of Marine Midland Arena (now KeyBank Center ) in 1996,
320-634: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,
480-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around
640-615: A 500 car underground garage. The effects of the Great Depression and World War II limited the construction funds needed to make the project a reality. Around the same time, Buffalo city officials used Works Progress Administration funds to build the Buffalo Memorial Auditorium on the former northeastern portion of the neighborhood. The last remnants of the former Canal Street/Dante Place neighborhood were demolished in 1950. The "Fairhaven Village" project
800-425: A Buffalo based developer, announced the start of construction of two South Aud Block parcels. Their plans include two 6-story buildings with 71,000-square-feet of retail and office space along with 64 market rate and affordable apartments, with canal access, and are to be the first residences within the district. It’s scheduled for completion in mid-2024. And Shark Girl, the popular sculpture, and photo sensation spot,
960-516: A city's centre. Urban renewal may increase density and reduce urban sprawl . While urban sprawl is an unrestricted way of expanding the limits of a city, urban renewal clears out undeveloped areas within city limits. While urban sprawl increases urbanization, it can lead to vacant areas and sparse industrial sites. In some cases, urban renewal may result in increased urban sprawl when city infrastructure begins to include freeways and expressways . Urban renewal triggers urban sprawl to transpire, as
1120-400: A courtyard, creating a semi-private space within the estate functioning as recreation area. The courtyards were meant to create a community atmosphere and the blocks of flats were designed to allow sunlight into the courtyards. The blocks of flats were built using high-quality brickwork and included architectural features such as lettering , glazing , fixtures and fittings. The estates built in
1280-565: A deliberate focus on equitable development strategies, as demonstrated by initiatives like the ReGenesis Project in South Carolina , which combines environmental cleanup with community-driven planning. Urban renewal evolved into a policy based less on destruction and more on renovation and investment, and today is an integral part of many local governments. A primary purpose of urban renewal is to restore economic viability to
1440-604: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to
1600-452: A given area by attracting external private and public investment and by encouraging business start-ups and survival. The goals of urban renewal are: Slum clearances are strategy to demolish low-income poor-quality settlements and use the land for another type of housing. As well as being a tool for urban renewal, they have also been carried for public health and social reform reasons. Slum clearances and other programmes focused mainly on
1760-421: A grassy, sloped lawn. From 2008 to 2009, the former Buffalo Memorial Auditorium was demolished, as it was an ailing structure. Initially, plans were in place to construct a Bass Pro store on the location. The plans eventually were scrapped as Bass Pro decided against the location. As the culmination of nearly a decade's worth of effort, the first phase of the historic canal harbor area redevelopment opened to
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#17327797931311920-467: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to
2080-474: A large-scale program to renovate dilapidated Soviet-built housing , known as Khrushchevki . The program provided for the demolition of 5,171 apartment buildings and the resettlement of 1.6 million city residents by 2032. The program was later extended to a number of other Russian cities. The history of Singapore's urban renewal goes back to the time period surrounding the Second World War . Before
2240-502: A method for social reform emerged in England as a reaction to the increasingly cramped and unsanitary conditions of the urban poor in the rapidly industrializing cities of the 19th century. The agenda that emerged was a progressive doctrine that assumed better housing conditions would reform its residents morally and economically. Modern attempts at renewal began in the late 19th century in developed nations. However, urban reform imposed by
2400-600: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside
2560-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and
2720-597: A network of highways and interstates becomes the connection between many different cities. Areas are also often cleared in solely order to construct highways, which bring pollution and heavy vehicle traffic to surrounding neighborhoods. Poorly-conceived designs can lead to the destruction of functional neighborhoods and the creation of new ones which are less desirable or replaced with experimental new development patterns which prove undesirable or not economically sustainable. Community displacement of people living in urban renewal areas comes in various forms. Displacement may be
2880-515: A pavilion near the commercial slip which will be about 5,000 square feet and be constructed as a masonry-and-steel open structure that recalls a historic 19th-century building. It will have approximately 1,000 square feet of enclosed space for toilets and concessions, as well as an approximately 2,000-square-foot elevated outdoor deck above. The pavilion will have the ability to lengthen Canalside's programming seasons, and house seasonal markets, recurring programming, and private events. Plans also call for
3040-493: A re-watered navigable Commercial Slip in alignment with the original Commercial Slip, towpath/walkway on the west and east sides of the Commercial Slip, construction of a bowstring truss bridge , reconstructed Commercial Street, Steamboat Hotel and Lloyd Street ruins uncovered and preserved as an archeological site with a combination hard and grass surface, and the site of the former Union Block as an interpreted site with
3200-528: A second building called the Union Block Building which will have an approximately 2,800-square-foot one-story ground level that will be fully enclosed and environmentally controlled and an open 1,800-square-foot crawl space at the slip tow path below and an open-air roof of approximately 3,000 square feet partially enclosed on three sides by masonry walls recalling window portals to enable outdoor gathering uses, including observation of Canalside and
3360-567: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In
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#17327797931313520-480: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of
3680-713: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to
3840-550: A stated or covert intention of the project, but it may also happen when other renewal objectives are prioritized over the ability of residents to stay in their area, or as an unforeseen consequence of planning decisions. Displacement may be direct, for example in cases where low-income residents are forced to leave their homes and communities, or indirect, for example when renewal is a catalyst for gentrification and/or housing prices rise such that they no longer affordable to low-income residents. Indirect displacement can also result from
4000-488: A ‘world-class’ city." In Buenos Aires , Argentina , Puerto Madero is a known example of an urban renewal project. In the 1990s, the Argentine government decided to build a new residential and commercial district to replace city's old port and docks. More than 50 skyscrapers have been built in the last 20 years. Puerto Madero is now Buenos Aires' most expensive and exclusive neighborhood. Australia's built environment
4160-658: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation
4320-561: Is a known example of an urban renewal project. Its historical development began in 1976, when the Taipei Municipal Government accepted the proposal to redevelop the area east of the Sun Yat-Sen Memorial Hall. The goal of this redevelopment was to set up a secondary commercial center away from the more crowded old city center ( Taipei Station , Ximending area). The redevelopment hoped to increase
4480-620: Is back at her usual location, sitting on her rock, after her much-needed rehab in the form of artwork conservation. Canalside is served by various modes of transportation, including public transit, intercity rail and several highways. Canalside station of the Buffalo Metro Rail lies directly on Main Street. Amtrak 's Buffalo–Exchange Street station is less than a mile to the east, underneath Interstate 190 which forms Canalside's northern border. A bike ferry also provides access to
4640-475: Is now the prime central business district of Taipei. From the 1850s onwards, the terrible conditions of the urban poor in the slums of London began to attract the attention of social reformers and philanthropists, who began a movement for social housing. The first area to be targeted was the notorious slum called the Devil's Acre near Westminster . This new movement was largely funded by George Peabody and
4800-490: Is often carried out in rural areas, referred to as village renewal, though it may not be exactly the same in practice. An example being the introduction of tractors in France after the second world war. Replenished housing stock might be an improvement in quality, cultural and social amenity, and opportunities for safety and surveillance. Developments such as London Docklands increased tax revenues for government. In late 1964,
4960-554: Is open to visitors of all ages. It opened in 2019. In 2018, the State of New York committed $ 14 million to two projects at Canalside. $ 10 million was designated for the recreation of the historic street grid, underground parking and infrastructure within the North Aud Block, and $ 4 million was earmarked for the creation of "Longshed," an interactive building and exhibit surrounding a replica 19th-century packet boat that sailed on
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5120-478: Is quite young and the earliest large scale urban renewal projects didn't occur until the 1960s in the large cities of Sydney and Melbourne . Housing Commission of New South Wales and the Housing Commission of Victoria conducted large slum recalamation projects in the 1960s replacing large areas of Victorian era housing with international style housing commission towers. These projects were halted in
5280-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated
5440-698: Is the most expensive privately funded single building in the history of the City of Buffalo. Construction of the project began in March 2013. The building contains two NHL sized hockey rinks, a parking garage, restaurants, a Marriott hotel and retail space. The building was fully completed in 2015. On June 24, 2016, Canalside hosted the FanFest for the 2016 NHL Draft which was hosted next door in First Niagara Center . Future plans for Canalside include
5600-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that
5760-582: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of
5920-690: The Peabody Trust and had a lasting impact on the urban character of Westminster. Slum clearance began with the Rochester Buildings, on the corner of Old Pye Street and Perkin's Rent, which were built in 1862 by the merchant William Gibbs . They are one of the earliest large-scale philanthropic housing developments in London. The Rochester Buildings were sold to the Peabody Trust in 1877 and later become known as Blocks A to D of
6080-693: The Porto Maravilha [ pt ] is a large-scale urban waterfront revitalization project, which covers a centrally located five million square meter area. The project aims to redevelop the port area, increasing the city center attractiveness as a whole and enhancing the city's competitiveness in the global economy . The urban renovation involves 700 km of public networks for water supply, sanitation, drainage, electricity, gas and telecom; 5 km of tunnels; 70 km of roads; 650 km of sidewalks; 17 km of bike path; 15.000 trees; and 3 plants for sanitation treatment. China experienced
6240-539: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,
6400-474: The "risk of crime during all phases of construction sites" La legalità per la rigenerazione urbana: a law analysis . In the French colonial period, the entire city of Marrakesh - the city inside the defensive walls - was razed and redeveloped, except for the preservation of mosques, madrassas, and funerary memorials. The preserved madrassas include buildings erected as caravanserai. In 2017, Moscow launched
6560-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It
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6720-408: The 1950s with the reconstruction from Korean War , but the first Urban Redevelopment Act was passed in 1976. This began 20 years of large-scale clearance projects, which did not address socioeconomic problems and led to the breakdown of communities. In the 2000s, the government's focus changed from redevelopment to maintenance of existing developments. In Taipei , Taiwan , Xinyi Special District
6880-481: The 1950s. It was caused by the movement of migrants, especially from peninsular Malaysia and the baby boom. In mid 1959, overcrowded slums were inhabited by a big number of squatter populations, whereas these areas lacked the existence of service facilities such as sanitation. Since the establishment of the Republic of Singapore , urban renewal has been included in the part of the national improvement policy that
7040-705: The 1990s the concept of culture -led regeneration gained ground. Examples most often cited as successes include Temple Bar in Dublin where tourism was attracted to a bohemian 'cultural quarter', Israel has been undergoing extensive urban renewal projects due to the large number of concrete tenement buildings in its cities which do not meet modern Israeli safety standards and have what is widely considered to be an impoverished and unattractive appearance. Israel built large numbers of these tenement buildings, known in Israel as "train buildings" (בנייני רכבת, binyanei rakevet ), in
7200-795: The 2000s. Urban renewal involving established residential areas is now seldom tolerated and more recent projects have instead concentrated on disused industrial and transport infrastructure or adaptive reuse of older building stock particularly for new hi-rise housing projects. Pyrmont and Ultimo in Sydney and Postcode 3000 in Melbourne in 1992 are two key early examples along with Beacon Cove Fisherman's Bend in Melbourne and Urban renewal in Woolstore Precinct, Teneriffe and later Northshore at Hamilton in Brisbane . In Rio de Janeiro ,
7360-856: The Anglo-Saxon model taking in account the idea of an action that "determines an increase of economic, cultural, social values in an existing urban or territorial context." For instance, we can mention the regional law of 29 July 2008, nr. 21, of the Puglia Region, "Norms for urban regeneration", which states: «By this law, the Puglia Region promotes the regeneration of parts of cities and urban systems in coherence with municipal and inter-municipal strategies in order to improve urban, socio-economics, environmental and cultural conditions of human settlements " LEGGE REGIONALE 29 luglio 2008, n. 21: "Norme per la rigenerazione urbana" . A similar concept
7520-538: The British commentator Neil Wates expressed the opinion that urban renewal in the United States had 'demonstrated the tremendous advantages which flow from an urban renewal programme,' such as remedying the 'personal problems' of the poor, creation or renovation of housing stock, educational and cultural 'opportunities'. Urban renewal might have economic benefits and improve the global economic competitiveness of
7680-758: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with
7840-633: The Buffalo Outer Harbor. Urban renewal Urban renewal (also called urban regeneration in the United Kingdom and urban redevelopment in the United States ) is a program of land redevelopment often used to address urban decay in cities. Urban renewal involves the clearing out of blighted areas in inner cities in favour of new housing, businesses, and other developments. The concept of urban renewal as
8000-608: The Canal. However a public outcry, with pressure from citizens' groups and the local media, convinced the planners to excavate and restore actual portions of the district, including the Commercial Slip. In 2005, $ 279 million over 50 years was made available for the project via a re-licensing deal with the New York Power Authority that re-licensed the Niagara Power Project . The deal also established
8160-582: The Central Wharf to the cobblestone Commercial Street; prominent canal-era buildings, which house various naval and military artifacts; as well as the excavation site of the original Steamship Hotel building foundations, which are presented alongside several interpretive exhibits showcasing the historical significance of the Erie Canal. The Erie Canal Harbor Development Corporation planned the overall framework of Canalside for seven years and presented
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#17327797931318320-517: The DGEIS to the public in October 2009. This plan included several amenities that would complement the latter scrapped Bass Pro Shops flagship store. Canals that function as reflecting pools with a freezing system were built to replicate the historic Erie Canal and Main-Hamburg Canals. The canals were constructed on the old Memorial Auditorium site and were completed in 2014. The canals have water in
8480-530: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there
8640-521: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in
8800-665: The Erie Canal Harbor Development Corporation to manage the funds and projects on the waterfront. The Erie Canal Redevelopment project unearthed building foundations from the Canal-era neighborhood and restored the Commercial Slip, which formed the original natural outlet of Little Buffalo Creek into the Buffalo River . Completed in 2008, Phase 2 of inner harbor plan laid out by the Erie Canal Harbor Development Corporation consisted of
8960-422: The Erie Canal. In 2021, a rare three-row highly restored vintage 1924 Buffalo Heritage Carousel begun operations in a new 6,400-square-foot octagonal-shaped pavilion. It comes with tall windows and a 13-foot wide walkway around the inside of the roundhouse, and powered by solar panels on its double-pitched roof that will supply enough energy to power the carousel, and which was donated by Tesla. Sinatra and Company,
9120-489: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit
9280-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There
9440-642: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade
9600-580: The Memorial Auditorium stood vacant. Empire State Development Corporation created a master plan for an Erie Canal Harbor redevelopment project in 1999, which addressed developing parcels of land underneath the Buffalo Skyway. In 2004, a new plan was created, centered around the creation of historically-aligned canals and mixed-use development . Several delays and controversies surrounding the planning, redevelopment and construction of
9760-481: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on
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#17327797931319920-510: The Old Perkin's Rents Estate. Angela Burdett-Coutts, 1st Baroness Burdett-Coutts funded an experimental social housing estate, among the first of its kind, on the corner of Columbia Road and Old Pye Street (now demolished). In 1869, the Peabody Trust built one of its first housing estates at Brewer's Green, between Victoria Street and St. James's Park . What remained of the Devil's Acre on
10080-533: The Past (2016) examines the destruction of Syrian Town, a diverse neighborhood in Easton, Pennsylvania , and highlights how former residents use collective memory to maintain community ties despite displacement. In the politics of urban renewal, the state ultimately decides what is important to a city based on its own narrative and existing market conditions, and introduces elements which reflect these values, replacing
10240-544: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This
10400-490: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending
10560-501: The UN assistance report, two pilot developments were initiated in the end of 1964 by the government. These redevelopments then led to the success of Singapore's urban renewal because the government could provide sufficient amount of public housing and business areas. In the establishment of urban renewal programmes, some difficulties were experienced by the PAP government . The obstacles came from
10720-622: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in
10880-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had
11040-638: The Wall Street crash, after which the slide continued for three years, which was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in
11200-496: The area at the time were considered model dwellings and included shared laundry and sanitary facilities, innovative at the time, and fireplaces in some bedrooms. The design was subsequently repeated in numerous other housing estates in London. State intervention was first achieved with the passage of the Public Health Act of 1875 through Parliament . The Act focused on combating filthy urban living conditions that were
11360-457: The availability of lottery funding for capital projects and the vibrancy of the cultural and creative sectors. However, the arrival of Tate Modern in the London borough of Southwark may be heralded as a catalyst to economic revival in its surrounding neighborhood. Urban renewal schemes are often combined with small business and big business incentives. The process of urban regeneration
11520-460: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why
11680-406: The bars and brothels gave way to three- and four-story brick tenements, each housing multiple families. By the late 1920s, the Canal had been filled in by New York State who saw the stagnant and polluted canal waters as a public health risk. Throughout its existence, the neighborhood suffered numerous fires, explosions, and other disasters. The most notable occurred on January 1, 1936 very early in
11840-573: The beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on the stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until
12000-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate
12160-658: The cause of disease outbreaks. It required all new residential construction to include running water and an internal drainage system and also prohibited the construction of shoddy housing by building contractors. The London County Council was created in 1889 as the municipal authority in the County of London and in 1890 the Old Nichol in the East End of London was declared a slum and the Council authorized its clearance and
12320-535: The changes made to the urban decay area. After having more research about urban renewal in terms of international trends and domestic development, the practitioners in the industry built consensus to use “urban renewal” to describe all the changes made to the old town area. With the rapid development pace of urbanization in China, the urbanization rate reached the inflection point of the Northam curve . The city development
12480-509: The cleared areas to become surface parking lots, sparse industrial areas, or vacant land. In Barcelona the 1992 Olympics provided a catalyst for infrastructure improvements and the redevelopment of the water front area, and in Bilbao the building of a new art museum was the focus for a new business district around the city's derelict dock area. The approach has become very popular in the UK due to
12640-462: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which
12800-402: The commercial activity fueled by the harbor helped transform the city into a thriving metropolis. Buffalo's notorious Canal Street was a short distance from the canal terminus. The area had been the site of the original Village of Buffalo, near a Seneca Indian village on Buffalo Creek . The city eventually expanded outward from the waterfront location. The Canal, completed in 1825, opened up
12960-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by
13120-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what
13280-596: The current initiatives, noted in the Chief Executive's 2022 Policy Address, is to consolidate property interests and expedite urban renewal. Iranian Urban Renewal corporation is in charge of the program. Tehran and Isfahan and Khorasan and Khuzestan have some of the highest statistics of housing developments. Seventh program offers support to Ministry of Road and Urban and Development for gentrification and development in lesser devoped zones. Funding will also support money going to mass housing developers. During
13440-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered
13600-526: The demolition of housing in disadvantaged areas have often been criticized as a means of urban renewal for not adequately addressing the social problems that caused the initial problems in the area. By contrast, slum upgrading is an approach that aims to improve the existing area by directly addressing existing land tenure, infrastructure, and socioeconomic problems. Also known as land acquisition, compulsory purchase/acquisition, resumption or expropriation in various countries, eminent domain is, in principle,
13760-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and
13920-521: The district drew reaction from the public, notably the inclusion of a flagship Bass Pro Shops store in 2007 that was later scrapped. The Memorial Auditorium was demolished by July 2009, and the land it occupied was subdivided into the historically aligned parcels from the 19th century, now known as the North and South Aud Block. Since 2010, the district has seen an uptick in construction projects and touring concerts and events. Projects completed or underway in
14080-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did
14240-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of
14400-483: The early 1970s as enthusiasm for Towers in the Park planning waned. In 1971, a plan to raze Sydney's historic area The Rocks for public housing was halted by green bans . The CBDs and inner suburban areas of Australia's cities have been in constant renewal since the 19th century, however apart from large commercial re-developments this has mostly been done in ad-hoc fashion rather than as major planning initiative. Among
14560-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought
14720-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though
14880-435: The evacuate and build program and TAMA 38. The evacuate and build program, launched in 1998, allows developers to tear down older building complexes and replace them with larger and more modern buildings, while TAMA 38, launched in 2005, enables developers to extensively remodel buildings, strengthening them against earthquakes, adding safety rooms, remodeling the building's appearance, and adding new apartments. In both projects,
15040-500: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating
15200-412: The fastest urbanization and has one of the greatest urban sprawl scale in the world from 1990. Massive real estate development and reconstruction brought economic revitalization. However, when cleaning the urban decay area, traditional and historic buildings were destroyed to different levels. In the industry, researchers and practitioners used “old town reconstruction” and “urban regeneration” to describe
15360-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be
15520-475: The first decades of independence to house masses of Jewish refugees coming from Europe and the Muslim world. Since then, Israeli architectural styles have changed. In addition, these buildings do not meet modern safety regulations: Israeli law has required all new buildings to be built in an earthquake-resistant manner since 1980 and to be built with bomb shelters since 1991. There are two main urban renewal programs:
15680-452: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August
15840-425: The gap between the needs of urban residents, local authorities, and property developers, fostering innovative, community-driven solutions. Moreover, urban renewal projects have drawn attention to the nuanced impacts of gentrification. While these efforts can bring economic and infrastructural improvements, they may also displace long-standing communities and erode cultural heritage. Addressing these challenges requires
16000-606: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing
16160-502: The government. People remain living inside the buildings during the renovation period, which usually lasts for over a year, leading to concerns about exposure to construction dust and the possible presence of asbestos. Such rehabilitation works are common in districts with older buildings, like Kowloon City, Mong Kok, Sham Shui Po, Yao Ma Tei and Tai Po. The government of Hong Kong has always been concerned with land shortage and has introduced various policies to increase land supply. One of
16320-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,
16480-593: The infrastructure and character of older city cores. This can have knock-on effects on society and culture more broadly. Professor Kenneth Paul Tan writes that Singapore's self-image of having succeeded against all odds has led to strong pressure to pursue progress and development regardless of the destructive cost, postulating that Singapore's "culture of comfort and affluence" has developed in order to cope with people's repeated loss of their sense of place, redirecting their desires from "community" towards "economic progress, upward mobility, affluent and convenient lifestyles and
16640-527: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at
16800-535: The interplay of renewal projects and social inequalities, for example when people face discrimination in the housing market based on racial identity. In the United States, urban redevelopment projects have often resulted in the displacement of low-income inhabitants and Black communities when their dwellings were taken and demolished. In the 1950s, a Southwest Washington renewal project (see Berman v. Parker ) displaced thousands of largely African-American families, but provided them with no replacement housing because at
16960-563: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with
17120-458: The largest projects since the 1980s have been the clearing of most of South Brisbane 's commercial heart to become South Bank for World Expo 88 and the transformation of large industrial parts of South Melbourne to become the modern hi-rise dominated precinct Southbank . More recent ongoing projects include Darling Harbour in Sydney and Docklands in Melbourne in the late 1980s as well as South Wharf in Melbourne and Barangaroo in Sydney in
17280-520: The low-income residents, and building plenty of highways to reach large scale urban sprawl. The Josefov neighborhood, or Old Jewish Quarter , in Prague was leveled and rebuilt in an effort at urban renewal between 1890 and 1913. The Urban Renewal Authority is the statutory body responsible for urban renewal in Hong Kong. The Operation Building Bright scheme was launched in 2009 and is subsidised by
17440-521: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,
17600-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then
17760-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view
17920-461: The morning. Joseph Lopresti at 40 LeCouteulx just across the street from Our Lady of Mount Carmel Church came home from Mass, lit a candle, and went into his tenement basement to get some wine. He was outside accessing the basement doors when the building exploded. This brought national attention to slum areas and new legislation was passed by New York State that allowed cities the right to condemn and demolish "unsafe and unsanitary" buildings. That began
18080-502: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and
18240-427: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that
18400-582: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In
18560-527: The other side of Victoria Street was cleared and further Peabody estates were built after the Cross Act of 1875 . In 1882, the Peabody Trust built the Abbey Orchard Estate on former marshland at the corner of Old Pye Street and Abbey Orchard Street. Like many of the social housing estates, the Abbey Orchard Estate was built following the square plan concept. Blocks of flats were built around
18720-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during
18880-480: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in
19040-459: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in
19200-514: The poor, the elderly and ethnic minorities. In 2016, Portland Development Commission apologised again after the funds instead went into multimillion-dollar apartment projects, the increasing prices force the African-American and other low-income residents out of the market. The impact of urban renewal on marginalized communities has been well-documented in ethnographic studies. Rebuilding Shattered Worlds: Creating Community by Voicing
19360-450: The power to take private property for public use . However, cases have emerged in the United States in cases where the land acquired was not put to any public use. For example, the Kelo v. City of New London lawsuit ruled that eminent domain may instead transfer acquired private property into private ownership in the case of renewal schemes. The case was brought by a homeowner whose house
19520-627: The prosperity of the eastern district and the convenience of urban life for existing residents. The center's purpose was to expand business investment in the area and attract international financial services and technology firms. It also planned for residential development by building a completely new community. The Xinyi Project Area is the only commercial development area in Taipei with a wholly planned street and urban design. In addition to attracting corporations, it also features large retail spaces, department stores, and shopping malls. Xinyi Special District
19680-453: The provision of housing and post-war reconstruction in the United Kingdom, was commissioned by Parliament as a response to the shocking lack of fitness amongst many recruits during the War; this was attributed to poor living conditions, a belief summed up in a housing poster of the period "you cannot expect to get an A1 population out of C3 homes". Great Depression The Great Depression
19840-552: The public in 2008. It included the recreation of several distinctive features of the original Canal district, such as the Commercial Slip, which served as the historic juncture between the Erie Canal and the Great Lakes ; the wooden-plank Central Wharf, which stretched from the foot of Main Street to the Commercial Slip; the award-winning Whipple Truss foot bridge, which accurately resembles traditional canal spans and connects
20000-597: The rebuilding of an area of some 15-acre (6.1 ha), including the Nichol and Snow estates, and a small piece on the Shoreditch side of Boundary Street, formally Cock Lane. The slum clearance began in 1891 and included 730 houses inhabited by 5,719 people. The LCC architects designed 21 and Rowland Plumbe two of 23 blocks containing between 10 and 85 tenements each. A total of 1,069 tenements, mostly two or three-roomed, were planned to accommodate 5,524 persons. The project
20160-548: The resistance of people who used to live in the slums and squatters. It was reported by Singapore newspapers that those people were reluctant to be replaced. This became the major problems of 1960s redevelopment schemes. Affordable land value also became one of its reasons. Another problem was that the government had to purchase the private land owned by the middle and upper society to make the land vacant and be used for redevelopment. Urban regeneration in South Korea began in
20320-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of
20480-639: The spring and summer and ice in the winter for skating and ice biking. The first major private development in Canalside was the renovation of the Donovan State Office Building , now known as One Canalside. This project consisted of a hotel, restaurant and office space. Construction began in 2012 and was completed by 2014. The second major development was the Buffalo Sabres' hockey themed LECOM Harborcenter . The development
20640-558: The state for reasons of aesthetics and efficiency had already begun in 1853, with Haussmann's renovation of Paris ordered by Napoleon III . Modern urban renewal experienced an intense phase in the late 1940s under the rubric of reconstruction . In the context of urban renewal, "reconstruction" typically refers to efforts to rebuild and revitalize cities that were damaged during World War II. This phase involved not just repairing buildings, but also rethinking urban design, infrastructure, and housing policies. The impact of these initiatives
20800-476: The tenants are temporarily evacuated for the duration of the work and the developer pays for their alternative accommodation. In both programs, the developers add more apartments so as to sell them to additional tenants and make a profit. In Italy, the concept of urban renewal had been having the classical meaning of "recovery", "re-use", and also "redevelopment" for many years. It has not been long time that this meaning has changed, or has begun to change, towards
20960-1033: The time the law did not provide for any. A model established to improve the growth and urbanization of American cities instead harmed the welfare of many communities. Increasingly, urban redevelopment led to residents being replaced, not by new residents, but by shopping malls, automobile factories and dealerships, and big-box stores . Replacement housing – particularly in the form of high-rise housing for low-income tenants – has not been successful. Hostile architectural designs, together with low-quality construction and maintenance have often led to rapid deterioration and abandonment of these projects. Public housing projects like Cabrini-Green in Chicago and Pruitt-Igoe in St. Louis became so bad that they had to be demolished. In 2000, Portland, Oregon city leaders promised residents whose communities had already been decimated through urban renewal programs that their latest scheme would benefit
21120-448: The urban development in China for the past decade is strikingly similar to the situation in many Western countries. In terms of the similarity sharing with U.S. urban renewal programs, both countries viewed older neighborhoods as outdated and blighted, encouraged local governments to cooperate with local development interests for downtown redevelopment, failed to provide enough support and concern for residents of cleared areas, who often were
21280-425: The urban environment in a more sustainable and reasonable way. At the 15th China Central City Work Conference, the policy, "urban repair and ecological restoration ," was put forward. Immediately thereafter, new urban renewal models such as Guangzhou's micro-renovation and Shanghai's micro-renewal appeared to lead the trend of a new era of urban renewal programs in China. “Planning is inherently political”, however,
21440-751: The urban regeneration as "the coordinated set of urban-building interventions and social initiatives that can include replacement, re-use, redevelopment of the built environment and reorganization of the urban landscape by mean of recovery of degraded, underused or abandoned areas, as well as through the creation and management of infrastructure, green spaces and services […] with a horizon towards sustainability and environmental and social resilience, technological innovation and increasing biodiversity" (Art 2. L.R.18/2019). The same law introduces some rewards reserved to whom builds for social purposes. Moreover, these rewards are also reserved for those who carry on some particular implementation models. For instance, you can increase
21600-407: The urban renewal process leading to the beginning of the demolition of the tenements of Dante Place and by 1937, over 160 buildings had been demolished. By 1948, only 90 families remained in the area. In 1938 there were plans to build new housing in the area dubbed "Fairhaven Village" which called for accommodations for 962 families with a total of 2,942 rooms at $ 17.50 a room including utilities with
21760-706: The vicinity include LECOM Harborcenter adjacent to Main Street and Explore & More Children's Museum on the South Aud Block. Originally built in Buffalo, New York in 1825 as the "portal to the west," the Erie Canal Harbor served as the terminus for the passage of goods and passengers from the East Coast across the Great Lakes for much of the 19th century. More importantly for Buffalo,
21920-497: The volume of your building whenever "integrated safety systems and construction site risk management processes are applied; methods that are based on traceability and control activities, with particular reference to soil movement and waste traceability, based on advanced technologies", the increase in the building index is recognized in the art. 3 and these rewards are also given when technologies as geolocation, video surveillance and perimeter protection are implemented in order to prevent
22080-492: The war, Singapore's housing environment had already been a problem. The tension of both infrastructure and housing conditions were worsened by the rapidly increasing number of the Singapore population in the 1930s. As a consequence of the war and the lack of economic development, between the 1940s to the 1950s, the previous evil of housing conditions continued to happen. As much as 240,000 squatters were placed in Singapore during
22240-466: The waterfront, public programming, private events, and/or interpretive gatherings. Restrooms, visitor information, and public programming spaces are proposed at the ground level. In 2017, construction began on the Explore & More Children's Museum at Canalside on the South Aud Block. The museum houses a café and museum, retail space, along with four floors of dedicated uses and a rooftop terrace which
22400-666: The western United States to travelers and trade from the east coast. With it came a tremendous increase in Great Lakes freighter traffic at Buffalo harbor, and with that an influx of canal and freighter crewmen who were often paid off in Buffalo and spent freely in the bars and brothels that sprang up in the district, known variously as "Canal Street", "Five Points" "the Flats" and "the Hooks". There were 93 saloons, 15 concert-hall dives, and hundreds of dance-hall girls. The song " Buffalo Gals "
22560-476: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and
22720-673: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in
22880-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among
23040-658: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject
23200-443: Was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered
23360-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did
23520-498: Was acquired and demolished by a private company after the verdict. The company did not complete its contracted construction, leaving the plot empty. Similar occurred in the Rust Belt , where large areas of productive buildings were demolished to enable speculative future development which never materialized. Syracuse , Cincinnati , and Niagara Falls , among many others, cleared entire neighborhoods under urban renewal plans, only for
23680-528: Was carried out by Lombardy Region by mean of its Regional Law of 26 November 2019 - n. 18 "Simplification and incentive measures for urban and territorial regeneration, as well as for the recovery of existing building heritage. Changes and addendums to the regional law 11 March 2005, n. 12 (Law for the Government of the Territory) and other regional laws " Legge Regione Lombardia 18/2019 . This law defines
23840-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of
24000-554: Was filled in when the district was marked for urban renewal in the 1950s. By that time, the New York State Thruway and the Skyway and Buffalo Memorial Auditorium had been built over the Canal district, and the Commercial Slip was buried and forgotten. In the late 1990s, public authorities began showing an interest in reviving Buffalo's Erie Canal heritage. Initially, plans called for re-creating some buried elements of
24160-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing
24320-530: Was hailed as setting "new aesthetic standards for housing the working classes" and included a new laundry, 188 shops, and 77 workshops. Churches and schools were preserved. Building for the project began in 1893 and it was opened by the Prince of Wales in 1900. Other such schemes in the 1880s, where newly cleared sites were sold on to developers, included Whitechapel , Wild Street, Whitecross Street and Clerkenwell . The 1917 Tudor Walters Committee Report into
24480-500: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by
24640-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened
24800-408: Was not about urban sprawl and real estate development on a large scale. China improved its urban development strategy by using inventory planning other than incremental planning. Chinese promoted urbanization aggressively as national policy. But due to the change from the concept of urban renewal in terms of its presentation from the physical dimension, China now promotes small-scale “repairs” to improve
24960-621: Was revived as the Dante Place Projects. Now known as the Marine Drive Apartments, they were completed in 1952. The New York State Thruway and the Skyway was later built in 1955. The Commercial Slip was a remnant of Little Buffalo Creek, which flowed into the Buffalo River just before the larger stream entered Lake Erie . The Commercial Slip formed one boundary of Buffalo's infamous Canal District, and
25120-1357: Was significant: cities were often reshaped with new zoning laws, transportation systems, and public housing projects. These changes aimed to accommodate growing populations and improve living conditions, but they also often led to displacement of communities and altered demographics. In the late 20th century and now in the 21st century, urban renewal initiatives have often pursued three key goals: economic revitalization, social or cultural regeneration, and environmental sustainability. These efforts frequently aim to transform underutilized urban areas into hubs of economic and cultural activity, leveraging policies that promote both sustainability and equitable development. For example, green infrastructure projects , such as urban parks and community gardens, not only enhance property values but also foster social cohesion and provide environmental benefits like improved water management and biodiversity conservation. In recent years, urban renewal programs have increasingly involved " culturepreneurs ," individuals or organizations that blend cultural and economic strategies to reimagine urban spaces. These stakeholders often collaborate with governments and private entities to redevelop vacant land into dynamic public spaces, such as pop-up cultural venues or urban beaches. Culturepreneur initiatives are designed to bridge
25280-470: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that
25440-499: Was urgently put in action. Before that, the 1958 master plan had already been designed to solve the city problems. However, due to the lack of urban planning experts caused by the deficiency of professional staff, criticism came from many urban practitioners. The professional team recommended by the United Nations then was asked by the government to cope with the urban renewal matters and its redevelopment plan in 1961. Based on
25600-418: Was written by John Hodges in 1844 and refers to the women who lived in the canal district. In the early 20th century, after the Erie Canal was deepened and shortened in 1895 and as the canal traffic moved to the railroads the district became the home of Italian immigrants, mostly Sicilian. Canal Street's name was changed to Dante Place and the neighborhood became known as Dante Place or "Little Italy." Most of
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