NEW YORK CITY-In response to criticism from local community groups, the Bloomberg administration is tying transit and open space upgrades to the proposed rezoning of properties around Grand Central Terminal.
The plan has attracted some objections since it is viewed as giving developers the ability to build about 12 new office buildings larger than what current zoning allows, according to the Wall Street Journal.
In an op-ed article published Wednesday in the New York Daily News, Mayor Michael Bloomberg stated that the city would pay for park and transportation improvements upfront. Developers would then pay back the city over time. Previously the improvements were to be funded from the city's sale of development rights for the office projects.
City Councilman Daniel Garodnick, who has pressed for the improvements to be undertaken prior to the office building developments, says, "It is what we have been calling for all along. But the details here are unknown. I will look forward to fleshing that out." See story in the Wall Street Journal.
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