A showing of over 100 Upper East Side residents yesterday and speeches
made by politicians were a testament to the enormous community
opposition the Related Companies faces over its residential tower
proposal at 205 East 92nd Street. Yesterday’s meeting resulted
in Community Board 8′s vote to reject the developer’s application for a
421-a tax abatement, which would give it a tax break on the project’s
market-rate condominium component, in return for inclusion of
affordable rental units. Residents hope Related will abandon its plans if it cannot get the tax exemption. [more]