Crain’s: City releases long-awaited plan to spur office development in midtown east

NY-rezoning

Crain’s—August 24, 2016—The city published Monday its plan to allow bigger and more modern office towers in midtown east—the first step in the formal rezoning of the neighborhood.

The long-awaited midtown east proposal would allow the tallest buildings to be erected right next to Grand Central Terminal, increasing the current permitted maximum density by about 30%.

“This would be the highest as-of-right density allowance in the east midtown subdistrict, reflecting the [city’s] planning policy of focusing density in areas with excellent access to transit,” wrote the Department of City Planning in documents posted on its website.

Read the full article here.