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General Growth Properties released the details of their redevelopment plan for South Street Seaport today. GGP's CEO John Bucksbaum said, "Our vision for the transformation of the Seaport is the centerpiece of GGP's commitment to New York and its residents. We are proud to work closely with the New York City Economic Development Corporation to preserve and restore the unique character of this historic area while addressing the immediate and long-term needs of Lower Manhattan's growing community."

Earlier this year the community rejected their plans -- but now they're promising a Seaport that combines the visions of local business leaders and the community. The plan will replace the enclosed mall with a pedestrian district, and create more than two acres of additional open space. Expect to see new shops, restaurants, a boutique hotel, a five-star hotel and a residential building (aiming to be 42-stories high)...if all goes as planned.

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Lower Manhattan's SHoP Architects designed the new look, they're also working with the city to design the East River Esplanade and Piers Project, and hope to merge styles between the two projects.

Overall, the goal is to put the historic back on the map for everyone, not just those looking for a new Abercrombie & Fitch tee. The Landmarks Preservation Commission will now review the plan, which if approved could become a reality by 2014 (after the 4 years of projected construction).

The press release from GGP notes that they have "already begun energizing Pier 17 and the cobblestone-paved 'uplands' west of the FDR Drive with events and new vendors. The former fish-market stalls along South Street will be converted into a daily specialty food market. The Seaport will also continue hosting free public performances, concerts, and attractions." Learn more about the massive undertaking at The New Seaport. Curbed asks if a Chicago-based mall developer can gain the approval for a view-obscuring tower; allegedly there was a huge opposition when the project was presented to CB1. They also have more detailed photos of the plans.