Creating the Cool Factory: An Investigation of Artist-Led Development in Three New York City Neighborhoods

Abstract

The purpose of this thesis is to explore whether artist-driven development can be used as a tool in the resuscitation of decaying urban neighborhoods. This investigation suggests that artist-driven development is a powerful and effective way of revitalizing ailing neighborhoods if the neighborhood meets certain preconditions. This thesis uses nearest neighbor matching methods to demonstrate that artists have a causal, statistically significant relationship to economic development in Manhattan’s SoHo neighborhood and Brooklyn’s Williamsburg neighborhood. Historical case studies of SoHo, Williamsburg, and Brooklyn’s Red Hook neighborhood extend this analysis to suggest that artists make their most significant contributions to neighborhood development through the renovation of existing residential structures and the generation of cultural tourism and all related revenue. This investigation uses these case studies to establish that a neighborhood must meet certain criteria to be a good candidate for an artist-driven development program and proposes a set of considerations for policymakers deciding whether to implement artist-driven development initiatives in struggling neighborhoods.