After five years of discussions, the proposal for redevelopment of East Midtown was approved by the city Council. The new plan will allow developers to build more high buildings.
Now they can finish the floors as long as it would bring public benefits, such as improvement in the transport sector through the creation of open Parking lots.
«This is an important day for Midtown Manhattan,» says city Council member Dan Garodnick, who led the campaign. «Today we received a push and the ability to upgrade. Soon our eyes will open exciting new spaces».
The East Midtown Partnership President Rob Byrnes, «is deeply involved in this process», said the decision on the rezoning of the space «long overdue», noting that nevertheless, the idea met and opponents.
In accordance with the new distribution space 78 blocks, from 57th Street to the North, 39th Street on the South, Third Avenue to the East and Madison Avenue to the West — get a pre-prepared projects on development of transport infrastructure that developers must perform in exchange for additional floors, says Garodnick.
Those whose building area exceeds 30,000 square feet will be required to construct new pedestrian areas and Parking.
Developers, reacquires rights to high-rise buildings close to the sights, will automatically be subject to 20% tax. Or will have to pay 61,49 dollar for each square foot. According to officials, the tax will be transferred to Fund public improvements. It is expected that the city will receive an additional $ 350 million.
The mayor also supported the plan, arguing that modernization will lead to improvements in all areas and will be a great help in creating new jobs.
