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    Search results for "East Midtown, Manhattan"

    East Midtown Rezoning: Looking For Extra Zoning Rights? They’re For Sale

    Commentary  •  Michael Gruen & Juan Rivero
    Ross Sandler

    Michael Gruen, President of the City Club of New York

    Ross Sandler

    Juan Rivero, City Club Governing Committee

    A disarmingly simple plan for rezoning Manhattan’s office district running from Grand Central Terminal north to about 58th Street has been approved by the Planning Commission and will come to a Council vote around the time of the November election.

    It has three key components:  1) The City almost doubles the allowable floor area for new buildings on large sites along the major thoroughfares; 2) it sells to the landowner the right to build the increased space at the estimated market value of development rights (a base price of $250 per square foot); and 3) it applies the proceeds to unspecified transportation and pedestrian circulation improvement projects likely, when selected, to be located at Grand Central. (more…)

    Tags : City Club of New York, East Midtown rezoning, Juan Rivero, Michael Gruen
    Date: 10/16/2013
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