Financial District and Seaport Climate Resilience Project

project in planning

The project will include financing, construction and management of the First Phase Project of the Financial District and Seaport Climate Resilience Plan.  Lower Manhattan is facing flooding dangers due to climate change. Lower Manhattan Climate Resilience Study was made to identify future climate risks and impacts on Lower Manhattan. The study recommends developing a plan to extend the Manhattan shoreline into the East River to protect the low-lying and highly constrained Seaport and Financial District area. In addition, the city of New York will advance USD500 million for four capital projects to reinforce Lower Manhattan’s coastal areas and provide interim flood protections for the Seaport, parts of the Financial District and Two Bridges neighborhoods, to begin construction between 2019 and 2021. In the South Street Seaport area, parts of the Financial District and Two Bridges neighborhoods, Emergency Management (EM) will spend USD3.5 million to deploy a combination of just-in-time Tiger Dams and pre-deployed HESCO barriers by the 2019 hurricane season as temporary measures in advance of a permanent solution. In Battery Park City, the Battery Park City Authority (BPCA), with USD134 million in bonds, will reconstruct its esplanade and open space to adapt to new climate conditions. BPCA started the design in 2018 and will start construction in 2020. In The Battery, NYCEDC, in partnership with NYC Parks, BPCA and the Battery Conservancy, will invest USD165 million to elevate the wharf and esplanade and integrate a protective barrier such as a berm at the back of the park. This design will preserve the look and feel of the existing park while strengthening the shoreline. Construction will begin in 2021. In the Two Bridges neighborhood, NYCEDC is designing an integrated flood protection system comprised of permanent barriers and deployable or ‘flip up’ protections that will protect view corridors and public access. DDC will manage construction of the USD200 million investment, which will begin in 2021.

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