Developers Banking on Midtown East Rezoning

East
Friday, December 14, 2012
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Rendering of 1 Vanderbilt. (Courtesy SL Green Realty)

Rendering of 1 Vanderbilt. (Courtesy SL Green Realty)

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.

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