January 4, 2017
Massive new developments planned for Greater East Midtown in Manhattan came a little closer to getting started on January 3. City officials started the seven-month public review process for a giant, proposed rezoning of the 78-block neighborhood.
The new zoning would allow the construction of an additional 6.5 million square feet of Class A office space for the neighborhood. The plan also preserves historic buildings, and upgrades six Midtown subway stops.
“The greater East Midtown area is the city’s premier business district,” said Planning Commissioner Carl Weisbrod, in a statement from the New York Department of City Planning. “It generates approximately 10 percent of the city’s entire real estate taxes, so it is essential that it continues to maintain its status as a world-class economic magnet.”
The district spans Third to Madison Avenues, and East 39th to East 57th Streets.