The 40-year redevelopment involves the 59-block area from West30th Street to West 43rd Street, and Seventh and Eighth avenues to12th Avenue. It is bordered by Clinton to the north, Chelsea to thesouth, the Hudson River to the west and the Garment Center andMidtown to the east.

The approved plan includes a two-million-sf reduction incommercial development bringing it to a total of 26 million sf. Italso includes an increase in residential development and anexpanded affordable housing program to produce or preserveapproximately 2,600 affordable housing units with a total of 13,600new units.

Commissioner Karen Phillips was the sole dissenter. While she isin favor of an updated Javits Center, the expansion of the No. 7subway line and the city's effort to host the Olympic Games in2012, she is not in favor of the New York City Sports andConvention Center, a possible home base for the New York Jetsfootball team. "It's an invasive location for a stadium...for 12men to chase a pigskin."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.