"No other waterfront project got far enough to take seriously before this one," he said.
"These changes would have been needed even if the waterfront project wasn't built," he said.
But since waterfront projects take years to complete, the developers are hoping demand will return by the time the space is ready.
Port Chester, he said, is in the process of developing a $250 million waterfront project.
Many other waterfront projects are now on hold until the housing market strengthens.
When realized the entire waterfront project - to be developed with public and private financing - could generate 7,000 permanent jobs.
The 19-story Renaissance towers are also included in the waterfront project.
Four years later in 2006, the waterfront project was considered completed.
The waterfront project, however, is not expected to be completed for 10 to 15 years.
"We continue to do things to move this waterfront project forward, and we don't fight hard enough for our own piece."