The South Street Seaport's flag has been on the rise recently, despite whatever that smell is, and it only seems to be climbing higher. Last week, Council Speaker Christine Quinn talked about the future of the former site of the Fulton Fish Market at a press conference, likening it to the Pike Place Market in Seattle: "That is kind of an image of what we could have here...And just so folks know, Pike Place Market in Seattle has 8 to 10 million visitors a year. Think of how many we could have in New York."

The Pike Place Market features produce, fruit and flower stalls along with shops, restaurants and an old-fashioned fish market; it has created more than 10,000 jobs, Quinn noted. Speaking on behalf of a coalition of community leaders, food advocates, business leaders and politicians, that included Assembly Speaker Sheldon Silver, Quinn hopes this is the start of the revitalization of the neighborhood, which said goodbye to the Fulton Fish Market, after 183 years there, in 2005.

The lease of the property is currently owned by General Growth Properties, who are in bankruptcy proceedings. They had proposed building a 42-story hotel and luxury housing on the fish market site, but support the "concept" of a new public market.