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An overview of a “Waterfront District” headlined the annual State of the City address by Mayor Ted Clugston on Tuesday as a video showed administrators calling the city-led development a “billion-dollar opportunity.” The potential transformation of most of River Road into a pedestrian mall, Finlay Bridge, a focus on higher density housing, and changes to Riverside Veterans Memorial Park over the next 10 to 15 years were shown in the online speech that usually involves an outlaying of civic accomplishments and priority projects. “For many years we’ve feared the river due to flooding, but now it is time to celebrate it,” said Clugston while introducing a video of staff walking through the proposal. ....