The Seaport Plan  |  Preservation and Building  |  Hotels at the Seaport  |  The Transition  |  Retail at the Seaport  |  Green Issues  |  The Community  |  The Developer


The Seaport Plan
What is the redevelopment plan for the South Street Seaport?
The proposed redevelopment for the South Street Seaport celebrates the old and the new while improving the local neighborhood and creating a destination for visitors. The plan calls for a mixed-use development focused on Lower Manhattan’s Pier 17. Locals will benefit from additional open space and community amenities including a specialty food market and a community space for performances, lectures, and children’s programs. Active nightlife, specialty shops, public events, and restaurants will make the Seaport an exciting place for all New Yorkers.

How complete is the plan?
The entire plan is subject to the city’s public-review process under the Uniform Land Use Review Procedure (ULURP) as well as certain approvals from state and federal government. GGP is continuing to make adjustments to aspects of the plan based on the ongoing input we have received in the past two years from state and city officials, local civic organizations, and Community Board 1. Their combined feedback has helped us identify needed project features, such as a community space and everyday retail shops.

What is the project’s estimated cost and how is it being financed?
GGP is making a large investment in this project, and we are committed to seeing it through to its completion. Of the total cost, $103 million has been budgeted for “extraordinary construction” costs associated with building on waterfront lands in Lower Manhattan; $109 million has been set aside for the reconstruction of the city’s pier infrastructure; $62 million will be put toward approximately five acres of open space (three acres of which are new); $32 million will be for construction of the community space; and the City of New York will contribute a minimum of $30 million toward the reconstruction of the pier and open space.

What abatements or subsidies are you receiving? Who is paying for what?
The city will provide those tax abatements commonly made available to similar projects. New spaces will benefit from abatements equivalent to 421a and ICIP programs, as well as abatements of sales and mortgage recording taxes during construction. The City of New York will contribute a minimum of $30 million toward the reconstruction of the pier and the open space.

What is the project timeline?
The project will undergo approval processes by city, state, and federal agencies commencing in 2008 and concluding in 2010. Construction is expected to start in mid-2010, and GGP estimates that it will be complete by mid-2014. While the Pier 17 area of the Seaport will be closed during the four-year construction period, the Seaport’s historic district will remain open so residents can access the area’s shops, restaurants, and activities.

Prior to beginning the project, GGP has plans to add valuable amenities to the neighborhood. They include:
• A specialty marketplace in the renovated Fulton Fish Market fish stalls, which will be open daily starting this summer
• A 10,000-square-foot space for events and cultural programming. The space, called @SEAPORT, has provided programming for the community since January 2008. GGP will complete the larger community space in mid-2012.

Has GGP been working with the city on the plan? Where is it in the approvals process? Has the city provided GGP with any funding?
GGP has been consulting with staff of the New York City Economic Development Corporation, the New York City Department of City Planning, and the New York City Landmarks Preservation Commission on the project design. We will continue to work closely with these groups throughout the life of this project. The project is subject to review by Community Board 1 and the borough president. It also is subject to review and approval by the City Planning Commission and the City Council pursuant to ULURP, as well as the New York State Department of Environmental Conservation, the New York State Historic Preservation Office (SHPO) and the U.S. Army Corps of Engineers.

How will this project revive the South Street Seaport’s position as a New York destination?
Once completed, the new Seaport will attract local and international visitors to enjoy its open spaces, extraordinary views, unique retail and food offerings, and cultural programming.

Will the new Seaport be competing for tenants with other downtown developments like the Freedom Tower?
Current projects in Lower Manhattan, such as the Freedom Tower, the Battery Maritime Building, and the soon-to-be-built hotel and residential building at 99 Church St., will bring additional retail, great restaurants, high-end residential, and a farmers’ market to Lower Manhattan. GGP sees these projects as enhancing the area as a whole. While the projects share similar qualities with the Seaport plan, the uniqueness, charm, and historic character of the South Street Seaport allows the neighborhood to stand apart.

How will GGP’s redevelopment plan contribute to the revitalization of Lower Manhattan?
GGP’s redevelopment plan will replace the Pier 17 mall with new open spaces, two new hotels, freestanding retail buildings, cooperative apartments and a preserved Tin Building. The plan also ties into the city’s East River Esplanade project, which is part of a larger plan to “green” Manhattan’s waterfront.

Specifically, the redevelopment of the Seaport will revitalize Lower Manhattan by:
• Reconnecting the Seaport to the city;
• Preserving the character of the Seaport neighborhood;
• Nearly tripling the existing open space at the Seaport;
• Building a new community space for performances, lectures, children’s programs, and other activities;
• Adding conveniences such as a new water taxi slip that will improve waterside access to Lower Manhattan;
• Bringing in a combination of high-quality, affordable, and eclectic shops, and
• Increasing economic activity and employment in the immediate neighborhood and in the surrounding boroughs.

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Preservation and Building
What is GGP tearing down and what is it building?
The revitalization plan focuses on Pier 17 to the east of the FDR Drive. GGP will remove the Pier 17 building to make room for the relocated historic Tin Building, which will be restored and reconnected to the harbor’s edge under the supervision of the Landmarks Preservation Commission (LPC). The Pier 17 mall will be replaced with nearly triple the amount of open space, “the Lighthouse” hotel and residential building, and a boutique hotel with ground floor retail. No exterior changes are planned for the Seaport’s historic cobblestone district.

How tall will the corporate hotel be? Has GGP received zoning approval?
“The Lighthouse” will be 496 feet tall and located to the north of the city-designated Seaport Historic District. While taller than existing structures in the immediate vicinity, it will be within the scale of condos and hotels in the Lower Manhattan area and a fraction of the height of the forthcoming hotel and residential building at 99 Church Street.

The Lighthouse will be subject to approval by the City Planning Commission and the City Council pursuant to ULURP.

Who is responsible for the restoration of Pier 17 and the Tin Building?
SHoP Architects is collaborating with Jan Hird Pokorny Associates on the relocation and restoration of the Tin Building. All work on the portion of Pier 17 located within the city’s designated historic district is subject to approval by the Landmarks Preservation Commission.

What is planned for the abandoned fish market?
GGP is reinventing the 16 historic Fulton Fish Market stalls as a specialty food market. The Fulton Stall Market, offering both specialty goods and locally-grown produce, will be a showcase for local, national, and international culinary innovators and emerging talents. Some market proprietors will likely be more permanent, while others will rotate to bring new offerings to the community.

GGP has retained the services of renowned food and hospitality consultant Clark Wolf to develop the vision and plan for the Fulton Stall Market. Proposed tenants range from local purveyors, such as the New York State Cheese Guild, to international trade groups like the Mastica Growers Association from the Greek island of Chios. GGP anticipates opening the Fulton Stall Market this summer.

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Hotels at the Seaport
Who will manage the hotels?
GGP is in discussion with a number of experienced hoteliers. The designs for both hotels will be inspired by the Seaport’s maritime history and will offer restaurants to suit a range of tastes and budgets.


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The Transition
How will the Seaport generate revenue during construction? Can residents still shop at the Seaport?
The historic cobblestone district will remain open, and businesses will continue to operate during construction on the pier. The Fulton Stall Market is planned to open in 2008 as one of the Seaport’s new additions, helping to expand community amenities during the project’s four-year construction period.

How long will the community be without access to the pier?
GGP anticipates that the Pier 17 area of the Seaport will be closed during the four-year construction period. Construction on Pier 17 is slated to begin in 2010 and to be completed in 2014.

What will happen to the water taxi service during the construction period?
GGP will work to maintain an active slip with a water taxi provider throughout the construction period. This may require some flexibility with the taxi service provider, depending upon construction phasing. Based upon GGP’s relationship with the current provider (NY Water Taxi) and its riders, GGP is optimistic that it will be able accommodate them throughout the construction period.

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Retail at the Seaport
What will happen to the current Pier 17 tenants?
While Pier 17 will be vacated during the project’s construction period, its tenants are a very important part of the community, and we are working with those who want to stay. GGP will collaborate with those tenants who are in good standing and who have remaining lease terms to relocate them to other parts of the project (as space availability permits) or will agree upon mutually acceptable terms for vacating the space and returning possession to the landlord. Community Board 1 has offered the assistance of its Small Business Task Force to Seaport tenants interested in finding other downtown locations.

As part of this plan, what kind of retail tenants is GGP looking to attract?
The Seaport draws a variety of residents, New Yorkers, and visitors from around the world. Given the mix of consumers visiting the Seaport, the anticipated retail tenants will be eclectic. Several retailers will have space on Pier 17 opening onto the new pedestrian network, which will give the Seaport a distinct retail presence. GGP has been meeting with potential retailers who are interested in being part of the new Seaport.

Is this going to be just another shopping mall?
The new retail plan will be unlike the current shopping mall on Pier 17. It will include an outdoor retail space with store-front shops and a mix of familiar and unique retailers. Recognizing that there exist numerous areas for shopping in New York City, GGP aims to create a distinct shopping area in Lower Manhattan.

Will GGP be building a department store on the location?
GGP’s selection of retailers has not been finalized; however, we are working to bring a specialty store to the location.


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Green Issues
What sustainable-design components will GGP include?
All new buildings constructed on the site will be certified LEED Silver and exceed LEED or New York State Energy Conservation Construction Code (ECCNYS) requirements for energy and water consumption by 30 percent, in compliance with the city’s Local Law 86—the city’s standards for sustainability in its own construction projects.

In addition, the pier, Tin Building, and platform infrastructure will be restored. The project also will be incorporated into the city’s East River Esplanade project, which will enhance the esplanade and its piers.

What is your projected impact on the marine ecosystem?
All changes to the physical structure of the pier are subject to approval of the New York State Department of Environmental Conservation. The Environmental Impact Statement (EIS) will include a detailed assessment of the potential effects of in-water and over-water construction. This will include consultation with the Department of Environmental Conservation to avoid, minimize, or mitigate any potential impacts on aquatic species.

How much more green and open space will the community have once the project is completed?
There is currently 78,000 square feet of open space at the Seaport, extending from Titanic Park to the edge of Pier 17. The proposed plan will nearly triple that space, adding three acres of new open space to the East River Waterfront project.


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The Community
What feedback has GGP received from the community board on the project?
Community Board 1 has expressed concerns about the height of “the Lighthouse.” The community board also has expressed concerns about the square footage allocated for the community space. As GGP continues to share its plans and finalize the project, it welcomes this feedback and is working to address concerns and educate stakeholders about the plan.

How does the plan benefit the community?
GGP has consulted with Community Board 1 and, in doing so, has emphasized the project’s benefits for the community, which include increased open space on the pier, a specialty food market, a community space, nearly triple the existing open space, and new retail offerings, as well as increased revenue for the area that will be generated by the new hotels, shops, and restaurants.

How will the project affect the Seaport local economy?
The redevelopment of the Seaport will increase economic activity and employment in the immediate neighborhood and throughout New York City.

The construction phase of the redevelopment is expected to account for an $1 billion in economic activity for the city. By 2017, once the project has reached a stabilized rate of growth, the new Seaport will produce approximately $1.4 billion in economic activity over the next 20 years for the city. And it is estimated that the new Seaport will contribute $23 million (approximate) per year in taxes to the city—$15 million of which would be new to the City as a result of the development.

Over 5,750 jobs will be created in the immediate Seaport area and throughout the five boroughs during construction. As of 2017, the Seaport will employ a total of 2,100 employees, almost doubling the existing number of employees who currently work at the Seaport.

The new Seaport also will improve the area’s immediate economy by bringing needed neighborhood services—such as a food market and community space. Improving the area’s services and amenities will encourage residents to shop, dine, and entertain in the neighborhood rather than travel to other parts of city, as many currently do.

How is this project going to affect the rent prices in the neighborhood?
The EIS will include a detailed assessment of socio-economic conditions, including potential indirect effects on residential and commercial rents in the adjacent area.

How will the residents of Southbridge Tower be affected by this project?
Southbridge residents will benefit from the variety of community-focused amenities in GGP’s project. They will enjoy more open space on the pier, a new specialty food market, a new community space, and more cultural programming. These and other amenities will contribute to the value of the area and its convenience for residents.

“The Lighthouse” will have a minimal affect on Southbridge residents’ views of the Brooklyn Bridge, since the shorter side of the building—just 78 feet wide—will face the city. It is estimated that only five percent of residential buildings’ views will be affected by the Lighthouse.

What are some of the amenities the new Seaport will have for local residents?
Locals will benefit from nearly triple the amount of open space on the pier, a community space, a specialty food market, improved food offerings, and retail for everyday needs.

What are GGP’s plans to create new cultural space at the Seaport?
GGP has built on the success of the Seaport District Cultural Association, which has hosted theater performances, yoga classes, and fashion shows, by setting up “@SEAPORT”—a 10,000-square-foot indoor venue that features programming from downtown’s cultural organizations (e.g., Alliance for Arts, the Moth Storyshop, Trinity Church, and the Downtown Alliance lecture series).

Will the plan’s new architecture complement the existing historic structures?
SHoP Architects’ designs for the Pier 17 structures were inspired by the area’s maritime heritage. In addition, the master plan honors the region’s seafaring history by restoring and repurposing existing structures: The fish market stalls will be preserved and used as a new home for the specialty food market, and the Tin Building will be preserved and restored to its original likeness. While old and new structures will populate Pier 17, there will be an aesthetic cohesion among them.

How will the project affect ferry and water taxi service?
On the north side of the pier, ferry and water taxi access will increase. A tethered floating landing will expand waterborne transit at the new Seaport, making it a more accessible destination for the five boroughs and the entire region. The landing will potentially serve as another terminal for ferries to Governors Island and could restore the historic Fulton Ferry link between Manhattan and Brooklyn.

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The Developer
Who is GGP’s team on this project?
GGP has contracted with SHoP Architects and Field Operations on the project’s designs; with Kramer Levin Naftalis & Frankel LLP for land use counsel; with DHC Consulting Services on the proposed community space; with Lodging Investment Advisors on the project’s hospitality component; with Higgins Quasebarth & Partners, LLC on historic preservation; with Jan Hird Pokorny Associates on historic architecture; with Philip Habib & Associated on the traffic assessment; with AKRF on the environmental impact assessment; with ARUP on the structural engineering assessment; with Clark Wolf, a food and restaurant consultant, on the design and vendors for the former fish stalls; and with Edelman on communications.

Who is GGP’s lobbyist?
GGP is working with Kasirer Consulting.

Have GGP executives made recent political contributions?
GGP executives have not made any recent political contributions.

Does GGP conduct polls and focus groups? If so, what feedback has it received?
GGP worked with Global Strategy Group to conduct focus-group testing with long- and short-term residents of Lower Manhattan. Among the feedback, residents told us that the Seaport is “too touristy” and that the neighborhood offered “boring” and “overpriced” shops and restaurants. They emphasized that they would like a Seaport plan to provide unique shops, mixed-use facilities for the neighborhood, and a framework that better connects Pier 17 with the rest of the Seaport.

There have been reports that GGP has problems with unions working at GGP-owned malls across the country. How will that affect work on the Seaport project?
GGP is proud of its record as an employer of choice. Across the country, GGP provides 4,700 jobs, pays its employees competitive salaries, provides health-insurance benefits, and stands by its compensation package for employees at all of its properties. The new South Street Seaport is projected to create a total of 2,100 jobs—double the existing number of jobs there today. All of the contracted jobs will be unionized.


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