Proposed bill would give officials more authority to block projects

Legislation stems from Council member's opposition over Two Bridges developments

New York /
Aug.August 24, 2017 03:45 PM

Elected officials will have more power to stop new residential developments under a proposed new law introduced to City Council Thursday.

Council member Margaret Chin’s proposed law would shake up the way city government deals with rezoning proposals, Crain’s reported. If it goes ahead, the bill would allow the mayor, borough presidents and the City Council’s Committee on Land Use to bypass the “pre-application’” process that rezoning requests currently go through. That would mean politicians would have a greater power over developers, according to the publication.

The new laws could seriously hamper JDS Development Group, Starrett Corporation and L+M Development Partners and CIM Group’s three projects in the Two Bridges area. The laws could give Chin the ability to stop the projects going ahead unless they meet demands, Crain’s reported, which may mean they will need to be scaled back in size.

Michael Stern’s JDS is planning a 79-story tower at 247 Cherry Street, while L+M and CIM are working toward 62-story and 26-story towers at 260 South Street.  Starrett wants to build a 62-story building at 259 Clinton Street.  [Crain’s]Miriam Hall


Related Articles

arrow_forward_ios
Sen. Charles Schumers aid President-elect Joe Biden agreed to assist NYC. (Getty)

NYC loses $2.5B in property taxes, gets $1B from FEMA

NYC loses $2.5B in property taxes, gets $1B from FEMA
President-elect Joe Biden's relief plan focuses on the coronavirus and opening schools. (Getty)

Biden’s $1.9T package would extend eviction ban, boost rent relief

Biden’s $1.9T package would extend eviction ban, boost rent relief
TF Cornerstone President Frederick Elghanayan with 2-10 54th Avenue and 55-01 Second Street in Long Island City (Google Maps)

The 10 biggest new project filings in NYC

The 10 biggest new project filings in NYC
Gov. Andrew Cuomo announced that a major development surrounding Penn Station. (Getty)

Cuomo adds housing to $51B Midtown West project

Cuomo adds housing to $51B Midtown West project
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)

Santa Monica mega-portfolio officially hits market

Santa Monica mega-portfolio officially hits market
A rendering of 250 Water Street and Howard Hughes Corporation CEO David O'Reilly (SOM; Getty; iStock)

Howard Hughes’ Seaport project dealt major blow

Howard Hughes’ Seaport project dealt major blow
Eric Trump and Donald Trump Jr. with President Donald Trump (Getty)

These are the companies dumping the Trump Organization

These are the companies dumping the Trump Organization
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

The Closing: Ray McGuire
arrow_forward_ios

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

Loading...