Streamlined Zoning, Mixed-Use Keys to 21st Century New York Real Estate Development

NEW YORK CITY-Dramatic changes could be on the horizon for Manhattan’s skyline if government officials and commercial office space developers meet the new needs of corporations that want to grow their businesses here according to Jerry Speyer, president and CEO of Tishman Speyer Properties.

“Large organizations will be the core of New York City and they will want a different kind of space,” Speyer told a Nov. 29 gathering of real estate professionals sponsored by Shulte Roth & Zabel, a Manhattan-based law firm. “We will meet that need through new zoning and new construction in areas that haven’t been looked at before including the far West side of Manhattan and Long Island City.”

Large corporations forced by the tragic events of Sept. 11 to re-evaluate how they operate won’t flee CBDs, Speyer told the audience at the Roosevelt Hotel in Midtown Manhattan, but will instead manage risk in new ways.