General Growth Properties (NYSE: GGP) revealed the details of its proposed redevelopment of the South Street Seaport district in Lower Manhattan. The country's second-largest mall owner said in a statement it will "reconnect the Seaport to the fabric of the neighborhood, provide locally-needed amenities and reestablish the area as a dynamic community." GGP's plan has it replacing the existing enclosed mall with a pedestrian district, more than two acres of open space and circulation areas connected to the street grid, new shops and restaurants, a boutique hotel, and a five-star hotel and residential building. The architecture of the redevelopment, planned by SHoP Architects, is meant to be reminiscent of the Seaport's maritime heritage. The Seaport plan is under public review to "ensure its seamless integration with its Lower Manhattan neighbors", which include the East River Esplanade and Piers and Fulton Corridor Revitalization projects. The city’s Landmarks Preservation Commission (LPC) will review the proposed master plan. Pending that review, the plan could enter the city’s Uniform Land Use Review Process (ULURP) in the spring of 2009, with construction planned to commence in late 2010. Construction is expected to take four years. On the pier’s north side, replacing the vacant New Market Building, will be a 42-story house hotel along with residential units and a 3-story specialty retailer at its base. This building, as well as all new Seaport structures, are to be built to qualify for LEED Silver specifications and meet the city’s long-term sustainability standards that include using fuel-efficient construction equipment, recycled materials, energy conservation measures, and other “green” systems.