Why don't you guys buy parking lots.

Then excavate several basements, and build retail or residential above.  Then you get multiple level parking lots AND a functioning streetscape.

And if the builders are really smart, they could even preserve the historic facades (who cares about the inside of the buildings) and everybody would be happy.  Maybe you could have the first few floors of the building as a parking garage as well, and then a high rise residential or commercial office tower above? 

Then you can reclaim the streets and have a party on the sidewalk!

Cheers

david