Lower Manhattan, New York: where America's story begins There is a further draw - a district most of us assume to be all about financial power is now acquiring what real estate agents like to call "neighbourhood charm." In these computer-driven days, big-money deals can be done on beaches and in bunkers as well as on Wall Street, and it is a sure sign of the times that a branch of T K Maxx recently opened next door to the New York Stock Exchange. Sea breezes, excellent transport links and the chance to walk to work are a few reasons why people have been moving here. It's not just about being able to pull back the curtains and enjoy a breakfast view of the Statue of Liberty - the quality of life has greatly improved. As well as jogging beside the Hudson river, residents can now pick up designer breads and gourmet cheeses at a twice-weekly farmers" market next to the Andaz Wall Street hotel, get their nails done at a glossy new Duane Reade in the Trump Building - the largest outlet in the pharmacy's chain - and shop and dine at more than 1,000 stores and restaurants. Even a trip to Ikea is a scenic joy on the bright-yellow New York Water Taxi service that shuttles between Pier 11 and the store's dock in Brooklyn. How did this turnaround happen? In 2001, after the tragedy of 9/11, Lower Manhattan was a landscape of misery and devastation epitomised by an eight-storey mountain of rubble left from the collapsed Twin Towers. It took nine months to clear. "No one wanted to live here," says Annaline Dinkelmann, a former Morgan Stanley employee who now leads walking tours of the area. Then young people moved in because it was cheap. They've stayed on and have families now. The number of residents has doubled in a decade. Office buildings have been converted into apartments and the authorities have had to open six new primary schools in the past two years. Annaline points out one on Broadway, which I'm amazed to find is right beside the famous Charging Bull statue - said to be the most photographed attraction in New York after Times Square. What a place to grow up! And what a boon for teachers. Pupils needing a quick American history lesson need only pop along to Trinity Churchyard to see numerous illustrious graves, including that of Alexander Hamilton, the United States" first Secretary of the Treasury whose face now graces the 10-dollar bill. The Museum of American Finance can explain the current economic crisis, while the splendid 1907 US Custom House, with its monumental embodiments of the four continents, is a masterclass in civic confidence. Of course, the whole area is also a walk-through catalogue of human disaster, with its tributes to famine in Ireland, the loss of the Titanic and the slaughter of the Korean War. For me, the most poignant is the often unnoticed glass wall in Vietnam Veterans Memorial Plaza. Look closely, between the smokers and the sandwich-munchers, and you find it is etched with heartbreaking letters home from the troops. Dear Mom and Dad, When I think about the hell I've been through in the last few days I can't help but cry... A new elementary school also forms part of New York by Gehry, one of the most eye-catching buildings to have recently come punching through the Lower Manhattan skyline. Close to City Hall, it rises to 76 storeys and has a façade like a rippling steel curtain. Opened last July, Frank Gehry's first skyscraper is the city's tallest residential building and a standard-bearer for a development boom that has seen the number of hotels here triple since 2011. Eight more are in development, while the East River waterfront is being smartened up so that people can walk, run and cycle right around the tip of Manhattan. The British Garden in Hanover Square remembers the 67 Britons who died in the 9/11 attacks with a stone map of the UK The place to watch, though, is Ground Zero - although that name now seems inappropriate. The opposite, Sky Infinity, would seem better suited to what is arising here. Leading the way is the reborn World Trade Center, an ensemble of six skyscraping towers spearheaded by the 105-storey 1 World Trade Center, once known as the Freedom Tower. Rising to a symbolic 1,776ft (the year of the American Declaration of Independence), it will have an antenna making it 49ft taller than the Twin Towers - so there. The media giant Condé Nast has already booked 20 floors, while companion projects include a 1,000-seater performing arts centre and a transport hub designed by Santiago Calatrava that will resemble a white bird in flight. All this is now rearing up before our eyes, and if you think building sites are unsexy, think again. Americans get very excited about construction, engineering and transport, and the buzz associated with the rebuilding of their best-known, terribly wounded city is electrifying. Last year, nine million visitors flocked to Lower Manhattan, and many were there to behold a project that is nothing less than a restoration of national pride. Just as many Londoners are currently enthralled by the rise of The Shard - set to be the tallest building in Western Europe - so New Yorkers are captivated by the multitude of lofty cranes assembled here, often decorated with enormous Stars and Stripes flags. It will take time, though, with completion envisaged by 2016. Last September the first piece of the jigsaw was unveiled, the 9/11 Memorial with its roll-call of the lost and gaping twin voids fringed by tumbling waters. It already attracts some 10,000 visitors a day, and a National September 11 Museum will follow with exhibits donated by survivors. You can learn more about what is to come in the Skyscraper Museum near Battery Park, where there are also photos of the city with the Twin Towers in situ and an entertaining account of how their bland design was vilified for being "General Motors Gothic." This time around, though, there will only be applause. While the world already has much taller buildings than 1 World Trade Center, the twists of history mean its soaring bulk is already on a fast-track to fame. Try to see it at night, when Ground Zero is floodlit like the set for some demonic opera. At times the burgeoning skyscrapers disappear into the fog like Jacob's Ladder reaching up to heaven. You think of the Woolworth, the Chrysler, the Empire State... Once again, New York has become a city that induces a neck-cricking awe, a place where visitors peer into the sky and simply say "wow!." British Airways (0844 493 0787; ba.com) has flights from London to New York from £435 return. Alternative routes are from Manchester with American Airlines (0844 499 7300; aa.co.uk) and from Edinburgh with Continental Airlines (0871 989 1123; continental.com). British Airways Holidays (0844 493 0758; ba.com/newyork) offers a three-night, room-only package at the five-star Andaz Wall Street from £769 per person in May (book by Tuesday), including return flight from Heathrow. Other operators offering packages include Destinology (0800 072 2227; destinology.co.uk) and Thomson Worldwide (0844 050 2828; thomsonworldwide.com). Any time, but Lower Manhattan is most enjoyable in good weather when you can hire bikes, enjoy the parks and spend time on and by the water. The area is always in full swing by Memorial Day (May 28) when there will be ferries running to Governors Island (govisland.org). Visit nycgo.com and downtownny.com. New York City (Rough Guides, £13.99) is a comprehensive city guide. To find what's on, download the free Downtown NYC app from iTunes. Hotel rates drop significantly at the weekend, but some restaurants and museums are closed. Admission to the 9/11 Memorial (001 212 266 5211; 911memorial.org) is free but visitors must book and take ID. Wall Street Walks (666 0175; wallstreetwalks.com) offers themed group and private tours of the area. A 90-minute "History of Wall Street" walk costs $25/£15. The Downtown Culture Pass (downtownculturepass.org) provides admission and discounts to 11 attractions in Lower Manhattan over a three-day period - adults pay $25/£15 with reduced rates for children. For passes with a wider range, see citypass.com and smartdestinations.com. Bike and Roll (260 0400; bikenewyorkcity.com) has a bike rental outlet next to Battery Park - it's adviseable to book and take ID and a credit card. Holiday Inn Express New York City, Wall Street £ Chain-hotel accommodation on Water Street rising to 27 floors. The 112 rooms are bland and boxy but there is free breakfast and Wi-Fi (001 212 747 9222; hiexpress.com/nycwallstreet; doubles from £132 per night). Best Western Plus Seaport Inn, Downtown ££ A good family option set within Seaport Historic District. Some of the 72 traditionally furnished rooms have terraces with views to Brooklyn Bridge. Rates include breakfast and Wi-Fi (766 6600; seaportinn.com; doubles from £168). Andaz Wall Street £££ Best for big city buzz with enthusiastic service, the cosseting Wall & Water restaurant and a day spa. The 253 loft-style rooms have a restful, pared-down style with complimentary soft drinks and Wi-Fi (590 1234; wallstreet.andaz.com; doubles from £177). Smörgås Chef £ One in a score of alfresco restaurants on cobbled Stone Street, this is a fun spot to grab a Swedish snack amid the chattering office workers - go for lunch when the sun's out (53 Stone Street; 422 3500; smorgas.com). Trinity Place ££ Once the basement of a bank - with massive vault doors to prove it - this is a dark, atmospheric hideaway with a hearty international menu and lots of regulars. A good choice if it's cold and wet (115 Broadway at Cedar Street; 964 0939; trinityplacenyc.com). Delmonico's £££ Opened in 1837, this opulent haunt of celebrities and power-brokers is where such famous dishes as eggs Benedict, lobster Newberg and baked Alaska were first served. Now it's a place to enjoy superb steaks served by Sopranos-size waiters - dinner is livelier than lunch (56 Beaver Street; 509 1144; delmonicosny.com). Construction - the area around Ground Zero is a massive building site so steer clear of hotels that are close to it. Police barriers - lots of public events take place here, from marathons to parades to protests by Occupy Wall Street, so be prepared for closed streets and diversions. Wi-Fi charges - it's free in 15 public hot spots around Lower Manhattan including Bowling Green, Peter Minuit Plaza and South Street Seaport. Long queues - book tickets for the ferry from Battery Park to the Statue of Liberty and Ellis Island in advance at statuecruises.com.