Get ready for a ton of new office space (maybe): City council greenlights rezoning of Midtown East. The City Council on Wednesday cleared the way for 6.5 million square feet of new office space to rise in Midtown East. The council approved rezoning more than 70 blocks in the district, allowing developers to build to a higher floor area ratio (FAR).
The rezoning plan for Manhattan’s Greater East Midtown district is now in effect, after New York City Council’s unanimous approval. The regulations cover 78 blocks and are primarily focused on.
The new office tower and $220 million in planned transit improvements will move forward as planned, and as approved by the New York City Council. “This is a major milestone for the future of East.
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Real Estate Inwood rezoning approved by City Council despite protests over neighborhood’s future. The plan paves the way for larger residential buildings and includes hundreds of millions in.
· New York’s skyline looks starkly different than it did a decade ago, redrawn by the massive Hudson Yards project on the West Side of Manhattan; a profusion of towers on and around Billionaires’ Row in Midtown; and the revitalization of Lower Manhattan, with One World Trade Center leading the way. The recent rezoning of Midtown East
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New York City has undertaken a number of significant rezoning efforts in recent years. The latest change received City Council approval on August 9, 2017, the rezoning of a section of Midtown Manhattan known as East Midtown.The amendment of the Zoning Resolution of the City of New York is intended to encourage development in a major business center.
N.Y. City Council approves Midtown East rezoning. New York’s City Council unanimously approved a rezoning plan for the Greater East Midtown neighborhood surrounding Grand Central Terminal.
The New York City Council on Wednesday approved the first supertall to be constructed under the Midtown East rezoning. JPMorgan Chase will build a new 70-story headquarters at the site of its.
The City Council voted unanimously today to approve the rezoning of Chelsea Market, paving the way for developer Jamestown Properties to build a nine-story office tower atop the converted. are.
But at least one major obstacle is preventing a surge in residential sales in New York City: Even if buyers want. In March, the City Council approved a sweeping rezoning of the area, paving the way.
Inventory keeps contracting as higher rates deter sellers: Redfin Redfin expects the 30-year fixed mortgage rate to climb, but no higher than 4.3% in 2017. Wall Street’s optimism for economic growth and inflation in 2017 is expected to keep mortgage rates low. 4.Consumer outlook not to blame for slowing existing-home sales We think that tariffs imposed in the past year can account for only a small part of the slowdown in global trade growth over the same period. The threat of future tariffs might also have hit trade through its effect on business confidence and investment. But the key driver has been softer underlying demand, implying that a positive conclusion to ongoing trade talks would not lead to a sharp.