Howard Hughes unveils twin tower plan for 250 Water Street
The Howard Hughes Corp. (HHC) has unveiled its plan to redevelop an old glue factory site in the South Street Seaport as a 470 ft. twin tower apartment complex.
The developer said the $1.4 billion development at 250 Water Street will include 100 affordable apartments and renovations to the Seaport Museum that will help keep it “financially secure” for decades to come.
HHC said the project will create 2,000 construction jobs and nearly 2,500 permanent jobs generating $1.8 billion towards the city’s economic recovery.
“As New York City works to recover from the devastating impacts of the pandemic, we are redoubling our commitment to the city and the Seaport. We aim to be part of the solution by investing in this unique, historic neighborhood and its economy, providing a crucial lifeline to the Seaport Museum, and building affordable housing in an area where housing prices are out of reach for most New Yorkers,” said Saul Scherl, president of the New York Tri-State Region, The Howard Hughes Corporation.