By  on December 20, 2007

NEW YORK — The South Street Seaport is planning a sweeping redevelopment intended to transform the moderate-priced tourist mecca into a classier destination catering to the area's fast-growing upscale residential population.

"We should be making an announcement within the next three to six months," Janell Vaughan, general manager of the South Street Seaport, told WWD, confirming that big plans were afoot.

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