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New York

Bill would have cleared way for Vornado’s resi tower in Queens

Developer could have foregone setback rules in Rego Park

Rego Park Center (inset: Steve Roth)
Rego Park Center (inset: Steve Roth)

A bill proposed earlier this year would have allowed Vornado Realty Trust to take over city-owned land in Rego Park, Queens, and to forego certain setback rules to build a residential tower in the area.

Queens legislators State Senator Toby Ann Stavisky and Assemblyman Jeffrion Aubry proposed the now-defunct bill, and it’s not clear if it will be revived in the next legislative session, Crain’s reported. The bill, however, provides a glimpse into the real estate investment trust’s interests and potential future plans in the area.

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The legislation would have given Vornado ownership of air over parkland that is adjacent to the company’s property near Lost Battalion Hall. This would have allowed Vornado [TRDataCustom] to build a residential tower right up against the park’s border, eliminating a 30-foot setback rule. In exchange, Vornado would potentially pay for park improvements and give the city a comparable-sized easement over its property.

Vornado’s new residential tower would be near the Rego Center Mall, where the developer built a luxury rental tower, The Alexander.  [Crain’s] — Kathryn Brenzel

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Steven RothVornado Realty Trust