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You need a history lesson to remember how many times Main St. has been attacked & at what cost - what investment return? The Main St. waterfront, if developed, would generate jobs, taxes, visitors and might spill over to Main Street and more. Place a legitimate pier (not that goofy dock) for day-liners, USN destroyers/cruiser tie-ups & open up the so called park to restaurants and a street extension. It would be my guess that the City would require additional Police to just keep traffic moving, while visitors seek a spot to park and spend their money. The DeLaval site (Rinaldi/Pine) was a genuine start but appears to be in a state of severe frost.
Absolutely- it is a given.
One outcome would be an advancement of the employment opportunities exist the current low-level development which makes up the bulk of the utilization of commercial space on Main St. tends to have very low level job opportunities. Higher value business will be able to employ people in greater numbers and advance employee skills, leading to higher wages.
Another outcome, and this is key, is that those looking to purchase our residential housing stock will be seeing a city "on the rise" rather than a "stagnant city" or "a city in decline". This effort will be the guiding principle instrumental in restoring our currently declining tax base.
There is a great deal of "warehoused" residential housing- the upper floor vacancies are an overlooked resource and opportunity- by making our central business district viable again, those property owners will find incentive in restoring, rehabbing and finally putting this dead housing back on the market.
Can we find more ways this will benefit ALL within the city and region? YES, they are numerous and easy to anticipate.
Just looking at how poorly perceived our city is regionally you can easily surmise that if you change the reality, you change the perception, and new opportunities will abound.