NEW YORK CITY-Fearing the “if you build it, they will come” effect, Manhattan Borough President Scott Stringer granted the city conditional approval of the Department of City Planning‘s proposed rezoning of East Midtown, contingent on the city agreeing to fund improvements to the eastside subway lines—the 4,5 and 6 trains. Stringer also called on the city to make 16 other changes to zoning, financing and other mechanisms.

Stringer received a commitment letter from Deputy Mayor Robert Steel stating that the city would pay to increase capacity, on an hourly basis, on the system’s most congested line. Proposed transportation improvements will enable the subway line to accommodate 1,100 more people per hour and reduce or eliminate the overcrowding that has been forecasted to take place by 2030. The rezoning is slated to bring approximately 4.4 million square feet of new space to east Midtown, according to Stringer’s office.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.