South St. Seaport renderings unveiled.[ILLUSTRATION OMITTED]
General Growth Properties General Growth Properties (NYSE: GGP) is a publicly traded real estate investment trust in the United States. It is based in Chicago, Illinois. History
The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954. has released the details of a multi-faceted plan to redevelop the South Street Seaport The South Street Seaport is a historic area in the New York City borough of Manhattan, located where Fulton Street meets the East River, and adjacent to the Financial District. The Seaport is usually considered a historical district, distinct from the neighboring Financial District. and return the district to its former glory as a vibrant hub for commerce in Lower Manhattan. This proposal aims to reconnect the Seaport to the fabric of the neighborhood, provide locally-needed amenities and reestablish the area as a dynamic community. "Our vision for the transformation of the Seaport is the centerpiece of GGP's commitment to New York and its residents," said GGP GGP GPS (Global Positioning System) Guidance Package
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GGP Gotta Go Potty Chairman and Chief Executive Officer John Bucksbaum. "We are proud to work closely with the New York City Economic Development Corporation Overview
New York City Economic Development Corporation (NYCEDC) is a non-profit local development corporation that promotes economic growth across New York City's five boroughs. (EDC EDC
See: Export Development Corp. ) to serve and restore the unique character of this historic area while addressing the immediate and long-term needs of Lower Manhattan's growing community." The plan replaces the enclosed mall with a pedestrian district, more than two acres of additional open space and circulation areas connected to the street grid of the historic Seaport District. New shops and restaurants, a boutique hotel, and a five-star hotel and residential building are proposed. SHoP Architects, headquartered in Lower Manhattan, designed the Seaport's new master plan. SHoP is also working with the city to design the East River Esplanade and Piers Project,. The proposed master plan will be reviewed by the city's Landmarks Preservation Commission (LPC). Pending that review, the plan could enter the city's Uniform Land Use Review Process (ULURP ULURP Uniform Land Use Review Process ) in the spring of 2009, with construction planned to commence in late 2010. Construction is expected to take four years. A driving force behind much of the Seaport's plan is the need to create amenities that benefit the local community and continue to attract tourists.
GGP has already begun energizing Pier 17 and the cobblestone-paved 'uplands' west of the FDR Drive with events and new vendors. The former fish-market stalls along South Street will be converted into a daily specialty food market. The Seaport will also continue hosting free public performances and Pier 17 will also be one of the best viewing sites for Olafur Eliasson's upcoming installation, "The New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Waterfalls," opening on June 26 in several harbor locations.