A creative vision for tomorrow’s Seaport
Together with the acclaimed design team at Skidmore, Owings & Merrill, we’ve imagined a Seaport that builds on what makes this waterfront neighborhood so special.
Shaped by more than a year of community input, our proposal addresses the district’s urgent need for affordable housing and new jobs, and provides economic stimulus, environmental resilience, and a lifeline to the South Street Seaport Museum.
Throughout its history, the Seaport has evolved, responding to the needs of those who live, work, shop, visit, and play here. Our plan seeks to address neighborhood challenges, provide affordable housing, create jobs, increase resiliency, and imagine new opportunities for all to enjoy and engage with the water’s edge.
A collaborative plan
From stakeholders committed to a vital Seaport community.
Welcoming new neighbors at 250 Water Street
Our plan proposes the transfer of a portion of unused development rights from the East River waterfront to the 250 Water Street site, transforming a surface parking lot into a new, mixed-income development near public transit.
Importantly, the transfer of development rights will help preserve the low-rise character of the waterfront by moving the rights upland, directly adjacent to the Financial District, while making possible a host of essential benefits and improvements to the Seaport community.
Bringing affordable housing to Lower Manhattan
The proposal will bring some of the first new permanently affordable housing in decades to an affluent neighborhood, where the average household income is more than $150,000, and just 2.5% of housing qualifies as affordable.
The project’s 70+ units of affordable housing will be the first affordable housing in Community Board 1 complying with the Mandatory Inclusionary Housing program for families earning 40% of the Area Median Income or less.
The project will also enhance the area by providing enhancement of the streetscape.
“Without the museum, the historic significance of the district would greatly diminish.“
Financial stability for the Seaport Museum
Our proposal provides the South Street Seaport Museum with financial stability for the first time in its 50-year history. Through its proposal, the Howard Hughes Corporation will commit significant funding to stabilize and reinvigorate the museum, enabling physical improvements and a fund for reliable, recurrent revenue, preventing permanent closure.
That funding will enable the revitalization and reopening of the museum for the first time since Hurricane Sandy in 2012. Additionally, the proposal includes funding for the design and planning of a state-of-the-art, resilient expansion of this beloved institution – with modern exhibition space and improved facilities for collections and archives that will enable the museum to share the Seaport’s maritime history with a new generation of visitors.
Commitment to the South Street Seaport Museum
Our plan provides the museum with reliable recurrent revenue, enabling it to reopen and plan for the future.
An economic engine for the Seaport and NYC
The new development will help propel the city’s economic recovery, generating $1.0 billion in economic impact. Our project will create more than 1,000 construction jobs and support nearly 2,200 permanent jobs in the commercial, retail and nonprofit sectors.
in economic stimulus
Preliminary analysis of the plan suggests it will stimulate more than $1.0 billion of economic activity in New York City and State.
Our Seaport vision has six essential components:
- Transform a full-block surface parking lot into a dynamic mixed-use building
- Bring the first affordable housing to Community Board 1 through the Mandatory Inclusionary Housing program
- Ensure the long-term stability of the Seaport Museum
- Create new community spaces
- Create jobs and fuel NYC’s economic recovery