Discover the clash between modern housing needs and historical preservation in New York’s Seaport Tower
Nestled in the heart of Lower Manhattan lies 250 Water Street, a seemingly unremarkable car park. However, this site holds significance as part of the cherished Seaport district, a landmarked area since 1977. The proposed “Seaport Tower” project has sparked a contentious debate between advocates for conservation and developers.
The backdrop to this conflict is New York’s housing crisis. Recent data from the city’s housing survey revealed a record-low rental vacancy rate of 1.4%. The ambitious Seaport Tower, standing at 324 feet tall, promises to introduce 270 new residential units to address the pressing housing shortage. Yet, the project raises questions about the balance between progress and preservation.
2024-05-02 08:14:41
Original post available at www.economist.com