The firm that leases the South Street Seaport announced Thursday that it has reached an agreement with the New York City Economic Development Corp. for a major, multi-year revamp of Pier 17.
Howard Hughes Corp. said its plan has been approved by the Landmarks Preservation Commission, with the support of Community Board 1, according to a statement released by the company. Construction is expected to start next year and to conclude by 2015.
The real estate company plans a "complete transformation" of Pier 17, including adding a glass-enclosed retail center, new architecture and a rooftop space that could be used for concerts and other live-entertainment events, the statement said. Late last year, representatives from the company and their designer, SHoP Architects, met with members of Manhattan Community Board 1 to show them renderings, as previously reported in Crain's.