Adams' first neighborhood rezoning set to move forward

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Jan 22, 2024 View in browser
 
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By Janaki Chadha

Beat Memo

Department of City Planning rendering of a potential pedestrian plaza around the new Morris Park station.

Department of City Planning

Mayor Eric Adams is slated to advance the first neighborhood-wide rezoning of his term — a plan to spur some 7,000 new homes along a 46-block stretch of the east Bronx.

The City Planning Commission is expected to vote Monday to move the plan into the roughly seven-month review process, which will culminate in a vote by the City Council later this year.

The proposal — moving forward more than two years into Adams’ mayoralty — would make way for residential and commercial development in Morris Park, Parkchester and Van Nest along planned Metro North stations. It would span multiple Council districts, with most of the changes in areas represented by Council members Amanda Farías and Kristy Marmorato.

The Adams administration has treaded carefully on neighborhood rezonings, with an eye toward avoiding the high-profile fights such plans often prompted under his predecessor, Bill de Blasio.

Early in his mayoral term, de Blasio laid out goals to rezone 15 neighborhoods; his administration ended up completing eight, with a few proposals being scrapped after pushback from the Council.

The two Council members who will largely decide the fate of the Bronx plan have a fairly positive view so far.

Farías said the new housing will help “alleviate the burdens we have in our community — many people that are doubled up, tripled up, seniors that maybe don’t have the ability to move out of their current housing.”

“Bringing any more housing to a community that’s at a deficit is important,” she said in an interview.

Marmorato, who ran on a largely anti-development platform, appeared open to the rezoning at a recent community meeting. “Thank you for allowing us to have a say on what’s actually happening in and around our neighborhood,” she said.

Council Member Rafael Salamanca, who chairs the land use committee, and whose district includes a small piece of the rezoning, said Adams has done a better job than his predecessor of getting input from local elected officials. Notably, Salamanca killed a de Blasio proposal to rezone up to 130 blocks of his district in 2020.

He noted this most recent initiative is more modest in scope. “There’s not much land we’re talking about in terms of rezoning,” Salamanca said.

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Driving the Week

Traffic is shown near Grand Central Terminal in New York City.

Traffic traverses 42nd Street near Grand Central Terminal, in New York, Jan. 11, 2018. Most drivers would pay $15 to enter Manhattan's central business district under a plan released by New York officials Thursday, Nov. 30, 2023. | Mary Altaffer/AP

CONGESTION PRICING FACES ANOTHER LAWSUIT — New York Post’s Carl Campanile and Nolan Hicks: “A group of Lower East Side residents and merchants says it’ll sue to stop the MTA’s looming $15 congestion toll — claiming it’ll squeeze local businesses and create a traffic nightmare. The group fears drivers will opt for the toll-free FDR Drive and overburden that thoroughfare, while some local shops say they’ll be burdened with the new toll and have to pass the costs onto customers …

“They argue, as plaintiffs in two other lawsuits have, that the feds and the state failed to conduct an adequate environmental review. Those cases were filed by New Jersey Gov. Phil Murphy and jointly by the United Federation of Teachers and Staten Island Borough President Vito Fossella.”

ADAMS TOUTS HOUSING NUMBERS — POLITICO’s Janaki Chadha: Mayor Eric Adams announced an 80 percent jump in city-financed housing production in 2023 — while warning the pipeline will dry up if lawmakers don’t revive a key tax break in Albany this year. The city financed 27,911 homes last year — up dramatically from 15,480 homes in 2022, when the housing agencies struggled with staffing shortages that made it difficult to close deals in a timely fashion. Those agencies were better staffed last year.

The 2023 sum included 14,227 newly-constructed units — a record high — and 13,684 homes in which the city preserved existing affordability. The total also included 3,926 new homes for formerly-homeless New Yorkers and 1,670 supportive units.

HOCHUL’S REAL ESTATE DONORS — POLITICO’s Bill Mahoney: Gov. Kathy Hochul reported a fundraising haul of $6.3 million earlier this week, more than any previous governor has raised at this point in the election cycle. But Hochul’s numbers are similar to her predecessors in one major way: She’s still reliant on large donors …

Hochul took the max from real estate attorney Martin Edelman; World Trade Center Developer Larry Silverstein; White Plains construction company manager Louis Cappelli and Newmark Group CEO Barry Gosin. The governor announced this week that she had raised $2.5 million for the state Democratic committee in addition to her efforts on behalf of her own campaign. And many of the largest donors to the party also work in real estate.

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Odds and Ends

Kingsbridge Armory.

Kingsbridge Armory. | Office of the Bronx Borough President

A NEW PLAN FOR THE KINGSBRIDGE ARMORY — New York Times’ Stefanos Chen and Winnie Hu: It has been called the world’s largest armory — a palatial fortress in the middle of the northwest Bronx, with turrets overlooking the subway station. But for nearly 30 years, the Kingsbridge Armory has languished despite grand plans by mega-developers, billionaire investors and celebrities to repurpose the 570,000-square-foot landmark.

Now, an unusual community-led partnership aims to succeed where those efforts failed by creating an economic and cultural hub for those who live and work in the predominantly low-income neighborhood. It hopes to bring high-tech manufacturing jobs, a live performance space, new businesses and affordable housing to the city-owned site.

COMMERCIAL VALUES UP, PER CITY — POLITICO’s Janaki Chadha: The value of properties across New York City is projected to rise to $1.49 trillion, according to a tentative property tax roll released by the finance department on Tuesday….

The office market, which took a nosedive during the height of Covid-19, is rebounding. The total market value of properties in the commercial sector is expected to rise 4.4 percent from the current fiscal year, reaching $329.6 billion. By comparison, those values totaled roughly $326 billion three years ago, based on the most recent pre-Covid data.

NEW CONVERSION TRICK FOR OFFICE OWNERS — New York Post’s Lois Weiss: “What is the owner of a Manhattan office tower to do in the age of work-from-home? Hotel or residential conversions are complex and costly. Building renovations that add amenities in hopes of luring top tenants are expensive and may not even work. But for those left holding the bag, there is another way out: the office condominium."

SHELTER EVICTIONS DELAYED FOR PREGNANT MIGRANTS — The City’s Gwynne Hogan: “Pregnant migrants in their third trimester and women with newborn babies will get a reprieve from shelter evictions until their babies turn six months old, city officials told THE CITY on Tuesday. Pregnant women and those with infants can submit a doctors’ note to get a temporary pause of their eviction notice, according to Kayla Mamelak, a spokesperson for Mayor Eric Adams.”

Quick Links

— A look at the most influential families in New York real estate. (Crain’s)

— A duplex penthouse at Extell’s Central Park Tower sold for $115 million. (The Real Deal)

— The Lower East Side is divided over a bookstore that’s facing eviction. (Gothamist)

 

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