City kicks off process to rezone Governors Island

Officials want to pave the way for 4.5 MSF of mixed-use development

TRD New York TRD WEEKEND EDITION /
Aug.August 25, 2018 10:00 AM

Alicia Glen and Governors Island

The city kicked off a proposal to rezone Governors Island to make way for 4.5 million square feet of new development.

The de Blasio administration is looking to attract a combination of technology and life-science firms, educational institutions dormitories, and a convention center and hotel, Crain’s reported.

“This is a chance to have both great public open space and great culture but also use development to give more people exposure to this amazing place,” Alicia Glen, deputy mayor for housing and economic development, told the publication.

The city posted a notice announcing the first public hearing for the plan scheduled for next month as part of an environmental review process.

The city took control of the 172-acre island in 2010 and completed a 43-acre park in 2016. The parcels eyed for development are currently zoned for residential use. But covenants prohibit residential on the entire island, except for student housing.

The city’s rezoning would encourage relatively low-rise commercial buildings with large floor plates, and dorms or hotel buildings that could rise around 300 feet tall.

“We don’t want the zoning to be very prescriptive because we don’t have an identified user,” Glen said.

The proposal is expected to go through the public review process and be ready for a vote at the City Council in the fall of 2019.

But if it gets the green light, transportation to the island will be a key factor on the kind of interest developers show in the real estate. The East River ferry and one operated by the Trust for Governors Island already make stops, and the city’s ordered a second ferry to offer trips from the Battery Maritime Building in Lower Manhattan.

But even the expanded service wouldn’t be enough to transport the number of people who would fill 4.5 million square feet of development. The city is looking for other ways to transport people on and off the island. [Crain’s] – Rich Bockmann

 

Related Articles

arrow_forward_ios
348 Court Street (Photo by Justin Heiman/Getty Images)

Collapses raise questions about safety-law exemption

Collapses raise questions about safety-law exemption
Clockwise from left: Paloma Lara, Open New York’s Will Thomas, Developer Eli Weiss

Developer, activists square off on rezoning, industry distrust

Developer, activists square off on rezoning, industry distrust
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
Assemblyman Harvey Epstein and Senator Brad Hoylman (Epstein by Erik McGregor/LightRocket via Getty Images; Hoylman by Roy Rochlin/Getty Images)

Lawmakers introduce bill to keep rent regulation alive

Lawmakers introduce bill to keep rent regulation alive
Joy Construction’s Eli Weiss, Maddd Equities’ Jorge Madruga, and Mayor Bill de Blasio (Google Maps, Getty)

Inwood rezoning faces new challenges in HPD budget cuts

Inwood rezoning faces new challenges in HPD budget cuts
China’s housing market is into bubble territory

There are fears of a great housing bubble in China

There are fears of a great housing bubble in China
Governor Andrew Cuomo (Getty, iStock)

What NYC’s phase 4 means for real estate

What NYC’s phase 4 means for real estate
arrow_forward_ios

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

Loading...