A link to New York City’s maritime past – the South Street Seaport – is set to be redeveloped in an effort to transform the coast along the East River. The project will be funded with more than $200 million in private investment.
The developer, the Howard Hughes Corporation, is replacing the low-budget mall on Pier 17 with a multi-tiered glass structure that will have a rooftop restaurant, two outdoor bars and an amphitheater that can accommodate 4,000 people. The project will mean about 300,000-square feet of new retail, entertainment and open space.
Mayor Michael Bloomberg was at the project’s ceremonial groundbreaking Thursday morning.
“Today its cobblestone streets and restored buildings tell the story of our maritime past to millions of visitors every single year. But I'm happy to say that the best days are still to come for the seaport,” Bloomberg said.
Weeks before New Yorkers will elect his successor, Bloomberg also took the opportunity to tout the impact his administration has had on redeveloping the city.
“We have something like 525 miles of coastline and it's all become accessible and it's all developing. It tells you this city has a great future,” he said.
The redeveloped Pier 17 is expected to open in 2016.