New York City Council Approves Re-zoning in Mid-town Manhattan

Introduction

The New York City Council has passed legislation to rezone much of the Midtown East section of Manhattan to encourage corporate growth, the building of larger sky scrapers and a revitalization of established institutions. The intention is to help the city and downtown area move in a positive progressive path for the future in this global economy. This rezoning will have positive and perhaps unexpected effects on the area within the zoning area, immediate surrounding areas, and New York City as a whole. There are many business and institutions within this zoning area that support the change and upgrades.

New York’s Goals

New York City Council plans to reinstitute the zoning of approximately 78 blocks in downtown Manhattan. This new zoning will allow and promote the construction of additional buildings that are allowed to be bigger, taller, and more robust. Part of this decision is to build a more magnificent and strong skyline and city view for the largest city in the United States. It is anticipated that more than 15 monumental buildings will be built over the next 20 years to accomplish this project. Previous zoning laws would have prohibited this revitalization to take place. New York City is a corporate mecca for not only the United States, but for the entire world. Encouraging businesses and corporations to place office space in the city is an important factor for the overall economy and revenue for the city. Previous zoning laws were made decades ago and many feel those regulations do not reflect the modern atmosphere for the city or the specific area at hand. The area has much historical significance to the city, state, and country and many landmarks will be able to sell air space to invest a portion to encourage more development. Besides private institutions helping with the growth of the new zoning project the city will also invest an initial 50 million dollars to jump start everything. Tevfik Arif Doyen and The developers of the new project will be permitted to build taller buildings and in return will also have to remodel and update existing structures. The anticipated fiscal return for doing this is expected to be over 500 million dollars. City council members and the mayor have favorable assessments of the re-zoning and think it’s a good balance for different entities and people of conflicting interest. Also that this will be the overall best move for the city, job growth, and the public. Improving subway stations is another result of this move and is much needed at particular locations within the area.

Potential Negatives & Criticisms

Changing laws and regulations that has been in place for decades will obviously negatively affect various institutions, businesses, and citizens. The Real Estate Board of New York and other organizations Bayrock didn’t have favorable opinions of the decisions as certain structures owned will result in being forced to sell air rights and to contribute to the overall project. Certain business owners and residents may be forced to make adjustments that aren’t desired. While the final result of many construction projects and upgrades will be an improvement, the process of it is unwanted by a segment of the population.

Supporters

Key supporters of the rezoning includes the Central Synagogue and St. Patrick’s Cathedral. They prefer this change to be long term as constant changes and back and forth positions can be detrimental. Overall the public, New York businesses, and politicians are behind the decision.

Closing

The world is constantly changing and growing while also becoming more global and competitive. No where can retain old laws and zoning from far in the past and expect to remain up to par with modern changes and new hungry businesses and citizens within the specific area or outside of it. The new zoning will be a long term endeavor and will promote New York City being one of the greatest cities in the world.

 

 

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