The $1.4-billion proposal also seeks

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The Howard Hughes Corporation (HHC) unveiled a comprehensive proposal for Lower Manhattan’s Seaport area, including the transformation of an underutilized full-block surface parking lot along the boundary of the South Street Seaport Historic District into a mixed-income development that would include some of the area’s first new affordable housing in decades.

to provide long-term financial stability of the South Street Seaport Museum, improvements to the museum’s historic buildings that will allow it to reopen, and a design for a new museum building on an adjacent vacant lot. HHC’s plan comes after more than a year of community input that helped shape it. The plans were designed by architecture and urban design firm Skidmore, Owings & Merrill (SOM).

The centerpiece of the proposal is 250 Water Street, which will include the first rcs data affordable housing built in Manhattan Community Board 1 through the city’s Mandatory Inclusionary Housing (MIH) program. It will bring at least 100 critically needed permanently affordable apartments to a Community Board district where just 2.5 percent of all housing qualifies as affordable. Of the project’s roughly 360 overall units, approximately 25 percent will be affordable, along with approximately 260 condominium units.