NEW YORK CITY—After a long community planning process, the EastMidtown Steering Committee has issued recommendations for therezoning of the area around Grand Central Terminal.

In an announcement of its findings, the steering committee saysits proposed framework sets standards for new development, fundingfor needed transit improvements, enhancements for congested publicspaces and asks the city's Landmarks PreservationCommission to complete the work of designating significantbuildings. This will allow new and upgraded office space, thecommittee says, while furthering the need to preserve historicbuildings, improve mass transit and enhance the public realm.

Developers would be permitted to earn additional square footageat designated sites only by meeting specific criteria identified inthe report. For example, a developer could “earn” the right toconstruct additional density by first constructing transitimprovements at specific subway stations. Or a developer couldpurchase unused air rights from eligible landmark owners in a new,expanded zoning district; as part of the transaction, the citywould obtain revenue to fund public-realm improvements.