Since Mayor Bloomberg’s plan to rezone midtown east was first announced, it has stirred debate among local stakeholders, preservationists, and advocacy groups. Now Department of City Planning has offered up a set of new amendments—in the “A Text” section of the proposal—that responds to some of these key concerns expressed by New Yorkers while also serving the primary goal of the rezoning: To support and boost the growth of midtown’s competitive office district.
Even though the Midtown East rezoning is still under consideration, SL Green Realty is counting on it becoming a reality. According to Curbed, the developer has tapped architecture firm Kohn Pedersen Fox to design an office tower at 1 Vanderbilt Street located a block from Grand Central Terminal. SL Green needs the rezoning to be approved to move forward with the construction of their 1.55-million-square-foot building. The proposed rezoning would allow for taller buildings to be built if developers make a contribution to a fund called a “District Improvement Bonus,” which would be used for area-wide pedestrian network improvements.