A redesigned Pier 17 at the historic South Street Seaport will feature a glass shopping mall and larger open spaces, the developer announced Thursday.
"The re-envisioned Seaport transforms the pier's iconic waterfront setting into an energetic, highly engaging destination for shopping, dining and entertainment in lower Manhattan," David Weinreb, CEO of developer Howard Hughes Corp., said in a statement.
The Dallas-based Howard Hughes split from General Growth Properties Inc. in 2010. General Growth acquired rights to the property in 2004.
The company reached a deal on its lease terms with the city's Economic Development Corp. that paves the way for the redevelopment.
"We look forward to a day soon when Pier 17 will once again be viewed as one of the city's premier destinations — a catalyst for further economic development in the area," Economic Development Corp. President Seth Pinsky said.
Construction will start next year and is expected to be completed by 2015.
The South Street Seaport district comprises an existing mall at the pier as well as historic buildings and sailing ships.
The Pier 17 redevelopment has been approved by the city's Landmarks Preservation Commission. It faces votes by the Planning Commission and the City Council.