SL Green’s One Vanderbilt, rezoning get key approvals

Zoning subcommittee votes 7-0 to allow a special permit and increase density

TRD New York /
May.May 05, 2015 04:45 PM

SL Green Realty’s proposed 63-story tower at One Vanderbilt and a rezoning of the Vanderbilt corridor are one step closer to approval after the City Council zoning subcommittee voted unanimously in their favor Tuesday.

The subcommittee voted 7-0 to approve a special permit to allow increased density along the five-block Vanderbilt Corridor, and also voted to allow SL Green’s plans for its 1.6 million-square-foot tower to proceed, according to the New York Observer.

The City Council negotiated with SL Green to amend the plan approved by the City Planning Commission in March and secure public benefits like improved connectivity between East 43rd Street and the building’s lobby and access to The Public Plaza in front of the building. As a concession, SL Green will give up the opportunity for retail space on the ground level. Part of the agreement includes a three-story transit hall along East 42nd Street.

Council member Daniel Garodnick made the announcement on the steps of City Hall Tuesday morning. “This is something that New Yorkers may not appreciate at this moment in time because East Side Access is not even finished, but when it is done, they are going to be thanking us for many, many years,” he said.

The proposal will now go back to City Planning. If it is approved, it will go for a final vote before the entire City Council.

SL Green CEO Mark Holliday recently said the company is considering joint ventures for the project. [NYO] — Tess Hofmann

 

Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
902 Drew Street and 400 East 58th Street (Google Maps)

New York’s multifamily sales improve in Q3

New York’s multifamily sales improve in Q3
SL Green CEO Marc Holliday with 410 Tenth Avenue, One Vanderbilt and 126 Nassau Street (SL Green, Google Maps, Wikimedia, iStock)

SL Green’s lament: Office comeback “always right around the corner”

SL Green’s lament: Office comeback “always right around the corner”
Four New York Plaza (Photo via Hines)

Four New York Plaza office tower hits the market

Four New York Plaza office tower hits the market
SL Green CEO Marc Holiday and 420 Lexington Avenue with Scabby the Rat (Getty; Google; SL Green)

Peace prevails: SL Green, Local 79 settle dispute over protests

Peace prevails: SL Green, Local 79 settle dispute over protests
SL Green CEO Marc Holiday and 420 Lexington Avenue with Scabby the Rat (Getty; Google; Sl Green)

SL Green claims “saliva-spewing” picketers may be spreading Covid

SL Green claims “saliva-spewing” picketers may be spreading Covid
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...