Renewed possibility for 40-story hotel & condo in South Street Seaport

The proposed redevelopment of the South Street Seaport, including the construction of a 40-story hotel and condominium, is expected to move forward as planned. Despite declaring bankruptcy in April, General Growth Properties, which owns the Seaport, has recently secured a $400 million loan, enabling the company to go ahead on the development. However, controversy still surrounds the proposed 40-story waterfront tower. Community members are concerned it will destroy the historic character of the neighborhood.

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