Financially troubled mall developer General Growth Properties has put its Festival Marketplace portfolio on the market, a collection of indoor/outdoor retail extravaganzas that includes Boston's Faneuil Hall, Baltimore's Harbor Place and, yes, the South Street Seaport. The Lower Manhattan tourist sensation looks nothing like the above rendering, of course. That's the plan drawn up by SHoP Architects for General Growth's proposed revamping of Pier 17 and the Seaport?before the boutique hotels and waterfront tower ran afoul of some local leaders and the Landmarks Preservation Commission. A buyer could still push for a modified version of the Seaport plan, but we're not sure now is the time when developers are rushing to build massive condo/hotels in Lower Manhattan. General Growth was recently selected by the city to develop a massive mixed-use project on East 125th Street in Harlem. That remains on the boards for now.
· General Growth to sell Harbor Place in Baltimore, Faneuil Hall in Boston and South St. Market in NYC [Examiner]
· South Street Seaport coverage [Curbed]