NYC Council approves Midtown rezoning, paving way for new towers

The City Council approved JP Morgan Chase’s plans Wednesday for a soaring 70-story tower to replace the Union Carbide Building in East Midtown. The new tower will consolidate all of JPMorgan Chase’s employees in one building and will come with a 10,000 square-foot privately owned public space after Community Board 5 and elected officials pushed for more square footage.

City Council approves Midtown East rezoning, paving way for new era of office development [Curbed] With Midtown East rezoning, landmarks help sprout a new skyline [Curbed] City finally issues proposal for Midtown East rezoning [Curbed]

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DCP is proposing a zoning text amendment and map change for the Greater East Midtown neighborhood. The proposal would permit higher as-of-right densities for new state-of-the-art office building construction in order to ensure that East Midtown remains a highly competitive business district. New development would facilitate public realm improvements and the preservation of area landmarks

After five arduous years, New York City’s Midtown East rezoning proposal cleared city council today, paving the way for new office towers to rise in the neighborhood. The proposal, approved 42-0.

On February 8, 2010, the City Planning Commission certified Vornado Realty Trust’s application to build a 2.05 million sq.ft. office tower at 15 Penn Plaza in Manhattan. The site is across the street from madison square garden and Penn Station, and is currently occupied by the Vornado-.

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 · Advances in engineering and technology, new zoning, developer ego and the potential for fantastic profits have propelled new towers ever higher. The only city in the world where the march of supertall towers has moved more swiftly than New York is Dubai, where 29 supertalls have been erected since 2008, according to the Council on Tall Buildings.

The Midtown East rezoning initiative, which appears to be on its way to a full City Council approval, could make it easier for landmarks like Grand Central to sell their air rights, paving the way for.

N.Y. City Council approves Midtown East rezoning. New York’s City Council unanimously approved a rezoning plan for the Greater East Midtown neighborhood surrounding Grand Central Terminal.

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