NEW YORK CITY-The fate of Chelsea Market’s expansion plan will be up for discussion at a town hall meeting at Holy Apostles Church on 296 9^th Ave. Thursday evening. Residents of Manhattan’s Community Board 4 will have the opportunity to weigh-in about the positives and negatives of Jamestown Properties’ proposal to construct new office and hotel space here.

The Atlanta-based developer is seeking a rezoning change to pave the way for a 300,000-square-foot tower above the existing market and a new hotel on the corner of 16^th St. and 9^th Ave. GlobeSt.com previously reported that Jamestown secured a $380 million loan for the recapitalization of the market, buying out its partners Angelo, Gordon & Co., Belvedere Capital and developer Irwin Cohen in the mixed-use complex. The loan was financed through German bank Landesbank Baden-Wurttemberg and was arranged by CBRE’s Capital Markets Group.

While the project still requires a full review through the city’s Uniform Land Use Review Procedure, Lee Silberstein, a spokesperson for the Chelsea market expansion, tells GlobeSt.com in a statement that the developer has been engaged in a dialogue with community stakeholders for the better part of 2011. "In that light, although Jamestown Properties was not asked to be a part of tonight’s discussion, we are interested in listening to our neighbors and thought it was important for us to attend," Silberstein says, anticipating that the first public hearing regarding the matter will begin next year. “We have always been and continue to be committed to the long-term stewardship of Chelsea Market.”