City Council approves North Tribeca rezoning

The City Council unanimously voted Wednesday in favor of a North Tribeca rezoning proposal that places stricter limits on hotel development, allows for more residential conversions and encourages affordable housing building through incentives from the city’s Inclusionary Housing Program, according to Crain’s. The 25-block zone extends from North Moore, Beach and Walker Streets to Canal Street and West Street. The area was once a manufacturing district but has grown into a most residential area in recent years, despite old zoning restrictions that made residential development a particularly difficult and cumbersome process. Under the new rules, hotels are capped at 100 rooms unless developers obtain a special permit from the city, and ground-floor retail may only be up to 5,000 square feet for narrow streets or 10,000 square feet for wide streets. [Crain’s]