Wednesday, March 27, 2013

City Approves $200M Rebuilding of Pier 17 Mall

The New York City Council unanimously approved plans to tear down the current Pier 17 in the South Street Seaport and replace it with a sleek new $200 million complex with a green roof, marking the end of the long and contentious approval process.  Developer Howard Hughes Corp. made concessions to the council including pushing back construction on the project to allow Hurricane Sandy-battered tenants to have an additional summer season, with construction now scheduled to begin on Oct 1st.

The project calls for a mix of boutique and large retail spaces inside the 250,000-square-foot facility connected by open air pedestrian corridors.

Large glass garage doors can be lowered during inclement weather to protect these open spaces. The new building will include restaurants, rooftop shops, a concert venue and museum, and will be capped with a sustainable green roof.

As part of the City Council approval, the developers will also build two new food markets adjacent to the new structure in the old Link and Tin Buildings.

The developer had wanted to start construction on Pier 17 by July 1 and had asked tenants to leave the building by April 30. But retailers at the storm battered neighborhood, which was shut down for several months following Superstorm Sandy—some businesses are still closed—lobbied to remain open for the summer in order to recoup their losses. Under the agreement, they can stay until Sept. 9, with construction beginning on Oct. 1.

One of the food markets will go into the Tin Building, where the Fulton Fish Market had been before it moved to the Bronx. Howard Hughes had expressed interest in developing the Tin Building and the neighboring New Market building and it has until June 30 to submit a proposal to the city's Economic Development Corp., which controls the land. The City Council deal requires any plan for the Tin Building to include 10,000 square feet for a year-round, seven days a week public market.

Howard Hughes will also be required to develop a second food market selling locally sourced food, likely to be in what is called the Link Building, which is adjacent to the Pier 17 mall and now is home to restaurants and clothing retailers.

The $200 million project is expected to be completed by 2015.
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[see ElectricWeb | Blogger, Apr 18, 2012]
[see ElectricWeb | Blogger, Sep 12, 2012]
[see ElectricWeb | Blogger, Nov 29, 2012]
[see ElectricWeb | Blogger, Dec 2, 2012]

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