Latest Plan Unveiled For Renovation Of South Street Seaport

NEW YORK (CBSNewYork) -- A revised plan to upgrade the South Street Seaport was unveiled Monday – featuring plans for a middle school, a food market, and new housing.

In announcing the more than $300 million plan, the Howard Hughes Corp. said the historic seaport is facing an infrastructure crisis, with historic piers deteriorating into the East River and is in need of upgrades for its long-term future. The plan also reflects the needs that the growing Lower Manhattan community has called for, the company said.

The Howard Hughes Corp. said $171 million will go into repairing and replacing the decaying infrastructure, including $64 million to replace the decaying piers, $54 million to restore the Tin Building – a landmark former market structure from the turn of the last century – and $53 million to extend the East River Esplanade through the Seaport to the Brooklyn Bridge.

The corporation further plans to open a locally-sourced food market in the Tin Building, and construct a public middle school at the base. Affordable housing is also planned on the Schermerhorn Row bock adjacent to the Seaport, the company said.

The plans also call for a marina with enhanced berths for tall ships, financial support for the Seaport Museum and its tall ships, and food, shops, culture and entertainment.

Meanwhile, a controversial residential tower has also been scaled back to 42 stories from 52.

The plan still needs to go through the Landmarks Preservation Commission for approval.

Check Out These Other Stories From CBSNewYork.com: