What’s the future for the South Street Seaport?

New York /
Nov.November 30, 2012 11:00 AM

The future of the proposed South Street Seaport revitalization project is uncertain, the Wall Street Journal reported. The culprit: Hurricane Sandy, whose landfall in Lower Manhattan not only damaged the South Street Seaport Museum, but also could have damaged Pier 17, where Howard Hughes Corp. is planning a redesigned mall.

Now that the site is closed, and could be closed for two years with construction, retailers could get cold feet in signing leases and the site may have problems getting visitors, real estate experts told the Journal. “People have a short time span to remember,” Faith Hope Consolo, chairman of Douglas Elliman’s retail group, told the Journal. “When they remember the Seaport, they’ll remember all those stores being closed.”

Howard Hughes maintains that the Sandy damage will not affect the company’s redevelopment schedule, which is pending approval. Divers are now examining piles underneath the pier to assess whether they sustained damage. The pier’s mall did not flood, a Howard Hughes spokesperson told the Journal. If the pier is found to be damage-free, then the area can open before the end of the year. [WSJ] — Zachary Kussin


Related Articles

arrow_forward_ios
Museum funding snafu sets back Seaport project
Museum funding snafu sets back Seaport project
Museum funding snafu sets back Seaport project
The parking lot at 250 Water Street (New York Public Library)
What’s next for a 50-year-old parking lot in NYC’s oldest neighborhood?
What’s next for a 50-year-old parking lot in NYC’s oldest neighborhood?
Gotham Organization Chairman Joel Picket with the proposed development at 130 Felix Street. (Getty, 130 Felix)
These projects just beat the rezoning deadline
These projects just beat the rezoning deadline
The complaint against the tower includes loss of views for current residents in the neighborhood. (Getty)
Seaport community groups sue to block Howard Hughes’ Water Street tower
Seaport community groups sue to block Howard Hughes’ Water Street tower
The Howard Hughes Corporation CEO David O'Reilly (LinkedIn via David O'Reilly)
Howard Hughes’ (slightly less) big Seaport project approved
Howard Hughes’ (slightly less) big Seaport project approved
A rendering of 250 Water Street, Landmarks Preservation Commission chair Sarah Carroll and Howard Hughes Corporation CEO David O’Reilly (Center for Architecture, The Howard Hughes Corporation/SOM)
Howard Hughes told to further refine Seaport tower proposal
Howard Hughes told to further refine Seaport tower proposal
Howard Hughes Corporation CEO David O’Reilly and 250 Water Street (The Howard Hughes Corporation/SOM)
Critics look down on shorter 250 Water Street
Critics look down on shorter 250 Water Street
Previous rendering of 250 Water Street (left) and a new rendering (right) with Howard Hughes Corporation CEO David O’Reilly (The Howard Hughes Corporation/SOM)
Howard Hughes hopes smaller Seaport project will work this time
Howard Hughes hopes smaller Seaport project will work this time
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...