General Growth Properties
City Taps Developer General Growth to Build Big on East 125th
The Bloomberg administration has designated a team led by Chicago-based developer General Growth Properties and Archstone Smith to construct a 1.7 million-square-foot mixed-use, mixed-income complex on East 125th Street, the city announced today.
The selection was coupled with a vote on the project by the City Council, which this afternoon approved a rezoning of the site that runs from 125th Street to 127th Street, between Second and Third avenues.
Developer General Growth--which is a leader on a team that includes Archstone-Smith, the Richman Group, Monadnock Construction, the Carey Group, Hope Community and El Barrio's Operation Fightback--faces financial troubles nationally. read more »
In Pushing Seaport Redo, Developer General Growth Goes Retail
Facing a lengthy approval process and a wary community board, developer General Growth Properties is bringing its campaign to redevelop South Street Seaport to the streets, as it unveiled a storefront exhibit on the seaport this morning.
For the exhibit, "Seaport Past & Future," General Growth brought on architect and writer James Sanders to trace the area's rich, dynamic history through five separate displays of the seaport at different time periods. The suggestion seemed to be that the seaport has always been marked by change, and the developer's plan is only part of an evolution, as opposed to a strong break from the past. read more »
Seaport Developer: Toss 'Festival Marketplace' Overboard
Following the reveal in today’s Times of the long-awaited plans to redo Pier 17 and the South Street Seaport, we chatted with Michael McNaughton, a vice president with developers General Growth Properties, about the company’s plans for the site.
The planned redo of the site comes more than two decades after developer James Rouse, who pioneered the “festival marketplace” that helped revitalize places such as downtown Boston and Baltimore’s waterfront, installed the seaport-themed retail hub on the pier.
Mr. McNaughton was blunt in criticizing the marketplace as it stands today.
“You have a three-level mall basically encompassing the entire area of the pier, which, once inside, you honestly have no clue what city you might even be in the United States,” he said. read more »
