Crains NY Business: The city’s plan to extend a barrier between nearly one mile of Lower Manhattan’s coastline and the East River with more extensive flood-water protections is one step closer to reality.

The New York City Economic Development Corporation has approved Netherlands-based engineering firm Arcadis, along with a team of 18 consultants, to develop the city’s Financial District and Seaport Climate Resilience Master Plan, Curbed NY first reported.

Arcadis, which is currently working on the East Side Coastal Resiliency project, along with 18 other consultants will come up with options for protecting communities in Lower Manhattan which are vulnerable to climate change effects, including rising sea levels and flooding.

Mayor Bill de Blasio first unveiled a $10 billion proposal in March to help protect against storm surges and rising sea levels around Manhattan.

The Seaport and Financial District are some of the city’s most challenging neighborhoods because of the area’s low-lying topography, NYCEDC officials told Curbed. 

According to the NYCEDC, by the 2050s, 37% of buildings in Lower Manhattan will be at risk from storm surges. 

And by 2100, almost 50% of buildings will be at risk from storm surges. The NYCEDC, estimates that 20% of Lower Manhattan’s streets by 2100, will also be at risk of daily flooding due to over six feet of projected sea-level rise.

It’s still unclear how much de Blasio’s project will cost and who will pay for it.

The city hopes to keep residents informed with quarterly updates at public meetings and visits to Manhattan Community Board 1, according to Curbed. Read more>>