The New York City Economic Development Corporation (NYCEDC) and the Mayor's Office of Climate Resiliency (MOCR) have released the Financial District and Seaport Climate Resilience Master Plan, a framework for comprehensive flood defense infrastructure to fortify Lower Manhattan in response to the increasing threat of climate change. 

The plan is projected to cost $5 to $7 billion and will reimagine almost one mile of shoreline from The Battery to the Brooklyn Bridge with a resilient waterfront that can withstand severe coastal storms and rising sea levels. Based on the New York City Panel on Climate Change 90th percentile projections, noted in NYCEDC’s announcement, rising tides by the 2050s are expected to flood the Financial District and Seaport monthly and then daily by the 2080s. In addition, some level of frequent tidal flooding is likely to be seen as early as the 2040s. 

The master plan features a multilevel waterfront that extends the shoreline of the East River by up to 200 feet from its existing location. The upper level will be elevated by approximately 15 to 18 feet to protect against severe storms, while also serving to provide public open spaces. The lower level will be a continuous waterfront esplanade, raised three to five feet to protect against sea level rise. The NYCEDC projects that if no action is taken, repetitive flooding will cause up to $20 billion in estimated losses to reason from now until 2100.

The plan also includes resilient stormwater infrastructure including a new pump station; resilient ferry terminals for Staten Island, Governors Island, and NYC Ferries, among other operators; universally accessible entrances and pathways; new public open spaces with playgrounds, plazas, lawns, seating, and cafes; coves that promote habitat restoration and educational resources; and resilient piers for docking historic ships. 

“NYCEDC and MOCR have envisioned a 21st-Century resilient waterfront that stands to be a model for other major cities,” said NYCEDC President and CEO Rachel Loeb. “We’ve done years of work, and we have the innovation. There’s no doubt climate change is here. Sea levels are rising, and stronger, more devastating storms will only continue, which is why we must protect our coastline and safeguard our vulnerable historic Seaport area and Financial District. If we do not take action now, residents, businesses, and critical infrastructure are put in jeopardy. We must rely on strong partnerships at all levels of government to help implement this plan.”

This effort has been led by NYCEDC and MOCR in partnership with a host of city agencies. Technical and design support was provided by an interdisciplinary consulting team led by Dutch engineering firm Arcadis.

New York City worked closely with the community to shape this plan, incorporating feedback at every step of the process. The city also formed the Climate Coalition for Lower Manhattan, a group of local and citywide stakeholders. 

Next year, New York will move forward with the next phase of design and engineering needed to apply for federal funding and obtain the required permits from state and federal regulatory agencies. Before the master plan is implemented, a project to protect South Street Seaport, the lowest-lying and most vulnerable part of the master plan site, from flooding will be undertaken. In October, Mayor de Blasio announced $110 million in funding towards the Seaport Coastal Resilience project.

The Financial District and Seaport Climate Resilience Master Plan is part of the larger Lower Manhattan Coastal Resiliency (LMCR) strategy, which is backed by over $900 million in city investments to protect the region from flooding. This includes active projects in Battery Park City, The Battery, and the Two Bridges neighborhood north of the Brooklyn Bridge.