Seaport Project Delays: A New Owner, New Plans, and More Waiting

The Seaport, a popular downtown area for entertainment and dining, has hit another roadblock. After changing ownership last summer, the new operators, Seaport Entertainment Group (SEG), have delayed the long-awaited development at 250 Water Street. This site, bought for $180 million eight years ago, was supposed to become a $850 million mixed-use complex with apartments, stores, and public space. But SEG, who took over the project, hasn't started construction yet. They're either looking for a partner or a buyer.

Meanwhile, SEG has signed a lease with hospitality company Grupo Gitano for a tropical-themed restaurant and club on Pier 17. This might shift the focus from local businesses to tourists. SEG says they want to make the Seaport an entertainment destination, but they still have 100, 000 square feet of unleased space. The future of the Tin Building, a food hall that recently laid off workers, might also affect SEG's plans.

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