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Originally Posted by Sky88
Well, so where are these 136 million square feet of office space going to be moved?
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What are you talking about? It’s not being moved anywhere.
Quote:
Originally Posted by mrnyc
this is very good news and publicity to get going.
nyc is slow on the draw for encouraging these conversions.
although i understand some hesitancy, this is midtown after all.
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New York is slow to get a lot if things going. Too many politicians involved, and they’re terrified of the NIMBYs. To be fair, Hochul and Adams have tried to get things done (Hochul tried to lift the residential FAR of 12 and force municipalities to build more housing, but the state legislators were terrified of both. Adams meanwhile is trying to turn New York into the “City of Yes”, but good luck with that council).
Meanwhile, these areas targeted for the rezoning are the small-scale old office buildings which are the least desirable of office space, and aren’t really in the heart of any of the business districts. Somewhere down the line they would have been subject to a rezoning regardless of the state of the office market.
Now comes the fun with the Council and the NIMBYs. It will be interesting to see how these people who have been screaming for more housing to be built manage to turn the argument against this.