New York City Begins Review of Proposed East Midtown Rezoning

25/04/2013 10:55 am

New York City has begun the public review process for the proposed rezoning of Midtown East.

“Our East Midtown plan provides zoning incentives for the development of a handful of new, state-of-the-art sustainable commercial buildings over the next 20 years,” Burden said. “This will enable this iconic district to build on its distinguished building stock and maintain a spectrum of commercial space for different business needs, including tenants seeking modern Class A offices.”

The New York City Department of City Planning is proposing a rezoning strategy for 78 blocks of the East Midtown office area centered around Grand Central Terminal.

A key emphasis of the rezoning would be on energy efficiency, according to the release, with the city Planning Commission requiring new commercial towers built under the plan to be 15 percent more efficient than is required by the current building code.
New developments also would be allowed to “up zone,” or build higher than the base floor-to-area ratio of 15, by paying $250 per square foot for additional air rights.