Quote:
Originally Posted by Crawford
In any case, under Bloomberg, there have been far more downzonings in NYC than upzonings.
|
That has been for the most part in neighborhoods, and in some cases, like Williamsburg, you get both up and downzoning. But in the city's business districts, the push has been to allow for
larger development.
Quote:
Originally Posted by Dale
I had assumed, perhaps wrongly, that his push for Midtown rezoning was an attempt by Bloomberg to cement a legacy as a 'skyscraper mayor.'
|
The Midtown rezoning is Bloomberg;s push to keep the city's top business district - the Grand Central area - relevant to companies looking for modern office space. That's not only to remain competitive to other areas in and around the city (like Hudson Yards), but with cities around the world that have been building more modern office space at a pace ahead of New York's. The district around Grand Central was
downzoned back in the 60's, making any prospect of building modern office space almost nonexistent.
As far as this tower goes, it can be built as high as the developer can reasonably build, meaning there is a limit to how many units they can squeeze out of the floor space. If designed within zoning guidelines like One57, it will need no approvals. If designed outside of zoning, like 15 Penn and the Tower Verre, special permits would be needed. However, I doubt Barnett would go that route because it is a 6 month process and nothing is guaranteed. Look for a building that fits within the zoning, but built as high as possible, with maybe some flourish at the top (not a spire).
Extell also has hands in some of the rezoning in the GC district...
Quote:
http://therealdeal.com/blog/2012/12/...x-deal-making/
One example includes Extell Development, which purchased a portfolio of parking garages last year including 138 East 50th Street, between Lexington and Third avenues. The city expects the site will be developed with a hotel that could be as large as 924,893 square feet. But first Extell would have to strike deals with hotel giant Starwood Capital Group, as well as the smaller players Ramosar Realty, San Carlos Building Corp., and Samson Management.
|