fashionable Cary Street is now complete and has attracted favorable attention. The economical loft conversions have proved popular among student tenants. Further housing and redevelopment is a theme favored by Mayor Dwight C. Jones, citing plans for large apartment and condominium towers on the Canal Walk and hoping that it will attract tourists to Richmond. Unfortunately this has not occurred, however the planning is now taking a more modest line aimed at enhancing the challenge of a rather dull and empty space. Plans for the demolition of the old Reynolds Metals plant are still awaiting funding of around $50 million to be followed by reconstruction of the old canal system and development of the infrastructure with HUD grant aid before private interests can be offered a suitable development area. Revitalization success and future plans Richmond's downtown is rich in history especially from the Civil War and reconstruction period, the "Gilded Age". A great deal of attention has been devoted to the potential tourism holds for the city, however the mainstay remains the VCU facilities and students together with the banking interests that form the backbone of the city. Industry friendly investment in infrastructure has enhanced Richmond's reputation and attracted business through the establishment of areas such as the Virginia BioTechnology Research Park, (located north of the Richmond Coliseum), which markets itself as a premier office park for research. However although much has been done in Richmond towards establishing a true urban core there are still concerns among both civic and private institutions that the city will risk crime and dilapidation in the Downtown areas unless investment is forthcoming. The City of Richmond Downtown Master Plan concretises the official line which is to build upward and create a Condo tower-based residential area Downtown. This will provide "the perfect place to live, work, and play". This will not solve the fact that there are no major national chain stores located in downtown or its direct vicinity. A rapid transport system to provide faster links between Washington and Richmond is also mooted as important to the create of New Richmond according to Mayor Dwight C. Jones: high-speed rail. Festivals Downtown Richmond also is home to some of the nation's biggest festivals, including the National Folk Festival from 2005 to 2007, which spawned the Richmond Folk Festival, which is now one of the biggest festivals in the state, drawing as much as 200,000 people