NEW YORK CITY-The New York City Planning Commission says it will mandate new commercial tower buildings in the new midtown east rezoning plan be 15% more efficient than current requirements under the city's building code allow.
The rezoning process, expected to take about six months, began yesterday. The proposed rezoning would significantly increase the size of what can be built in midtown in the area adjacent to Park Avenue and Grand Central Terminal. City officials have estimated the rezoning plan could fuel as much as 14.5 million square feet of new development in the area, according to Crain's New York Business.
“This is a momentous day for this agency," says City Planning Commission Chair Amanda Burden. “We are about to undertake one of our most important initiatives." See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
