Posted May 23, 2024, 2:31 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,769
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https://commercialobserver.com/2024/...eal-rejection/
NY’s Top Court Rejects Challenge to Howard Hughes’ 250 Water Street Development
BY NICHOLAS RIZZI
MAY 21, 2024
Quote:
Howard Hughes Corporation’s plan for a 27-story residential development at 250 Water Street in Manhattan likely cleared its final legal hurdle after the state’s highest court rejected a challenge by a local group opposed to the project.
The New York State Court of Appeals on Tuesday shot down a motion from local groups calling to reject the decision by the Landmarks Preservation Commission (LPC) to allow the 400-unit apartment building to be built on a parking lot in the South Street Seaport historic district.
The ruling, along with the state’s recently passed extension to the 421a development tax exemption, means its full steam ahead for the project that broke ground in 2022, Howard Hughes Corporation officials said.
“For too long, the lot at 250 Water Street has been an underutilized part of the Seaport,” Howard Hughes CEO David O’Reilly said in a statement. “Today’s decision marks a major win for Lower Manhattan and the city, and paves the way for Seaport Entertainment Group to begin construction on a vibrant, mixed-use project that will be a significant contribution to the neighborhood.” (Seaport Entertainment Group is a Howard Hughes subsidiary.)
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