AN ECONOMIC ENGINE
The redevelopment of the Seaport will produce significant economic benefits for Lower Manhattan and the city. The redevelopment, which will take place from 2010 to 2014, will reinvigorate Lower Manhattan by increasing economic activity and employment in the immediate neighborhood and throughout New York City.
The redevelopment will:
The redevelopment will:
- Support 5,750 full-time jobs during construction. By 2017, the Seaport will employ 2,100 employees, almost doubling the existing number of employees who currently work at the Seaport. GGP’s on-site trade labor employees are expected to be unionized, as will the approximately 360 hotel and residential workers.
- Contribute approximately $33 million in one-time project-related revenues for the city.
- Create a total of $1.4 billion in economic activity for the City during the construction phase.
- Generate approximately $23 million per year in taxes to the city—$15 million of which would be new to the City as a result of the development. These gains in revenue will come from retail and hotel sales/occupancy taxes and personal and business taxes.
This Site is not intended to be an offer to sell nor a solicitation of offers to buy real estate to residents of Connecticut,
Idaho, New York, New Jersey, and Oregon, or to residents of any other jurisdiction where prohibited by law.
Idaho, New York, New Jersey, and Oregon, or to residents of any other jurisdiction where prohibited by law.