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Private capital : Successful cases of private capital investment with the government’s support
Faneuil Hall Market Place, Boston
This is an example of successful tourism investment. This area next to the financial business district in downtown Boston became filled with decrepit waterfront warehouses became a crime-ridden area. In 1976, the area was transformed into a shopping/business town, complete with residential spaces through the waterfront development project.
Times Square, New York City
The area located in the heart of New York City became the hotbed of crime with pornography and the drug business growing rampant following the worsening financial situation of New York City in the 1970s and the 1980s. The efforts made by merchants in the area transformed it into a tourist attraction for cultural activities and shopping, with support from the New York City government.
Oedo Marine Park
In 1969, a developer purchased the island where five households lived. In 1976, he obtained a permit for the occupation and use of an area in the National Park. In the early 1990s, cultural facilities were built as per the development plan set up with the help of outside experts. In 1995, the place was reopened under the name of Oedo Marine Park. In September 2005, it changed its trade name to Oedo Botania. The accumulated total number of visitors exceeded 10 million by August 2007.
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