NYC’s South Street Seaport Redevelopment Planned at Pier
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Howard Hughes Corp., the real estate company whose chairman is hedge-fund manager William Ackman, reached a deal to redevelop Pier 17 at its South Street Seaport property, one of Manhattan’s most popular tourist areas.
Howard Hughes plans a “complete transformation” of the pier into a glass-enclosed retail center, with an open rooftop space to be used for concerts against the backdrop of city skylines, the Dallas-based company said today in a statement. The redevelopment is part of an agreement under its ground lease with the New York City Economic Development Corp.