A plan to turn a vacant Tribeca lot into two new condominiums is once again underway after an almost nine year delay. Developers Andreas Giacoumis, along with Darrin Krampus of BORO Architects, presented Committee Board 1 with original designs for 246 Front Street and 267 Water Street, which were supposed to be erected in 2003 when the Landmark Preservation Commission approved the plans. The economy experienced a sharp downturn, however, and developers became wary of building new property throughout Manhattan neighborhoods, so the project was stalled.

Krampus and BORO Architects will remain with the original plan to have a seven-story condominium; however they will be reserving the first floor for commercial use, while duplexes will be incorporated into the top two floors. The Committee Board was reportedly pleased with the altered design, but showed apprehension towards Water Street’s potentially abrupt appearance in the historic block. "I do not believe [this] facade will pass the LPC," one member said according to Curbed.com. It did just that though, with four members approving the construction of both buildings, and only two approving Front Street instead of Water Street. With this, Giacoumis and Krampus will be allowed to present the LPC with construction ideas on the 24th of July.