Posted Aug 9, 2017, 11:10 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,869
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https://therealdeal.com/2017/08/09/g...east-rezoning/
Get ready for a ton of new office space (maybe): City Council greenlights rezoning of Midtown East
Legislation could mean 6.5M sf of new office space
By Kathryn Brenzel
August 09, 2017
Quote:
The City Council on Wednesday cleared the way for 6.5 million square feet of new office space to rise in Midtown East.
The council approved rezoning more than 70 blocks in the district, allowing developers to build to a higher floor area ratio (FAR) — the highest being an FAR of 27 in some areas.
“This is certainly the right place to put a lot of new density,” Council member Dan Garodnick said before the vote, noting that the district accounts for 10 percent of the city’s property tax revenue. “The goal is to improve [Midtown East] not to keep it the way it is.”
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Nice when the politicians say something that makes sense.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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