Thursday, April 15, 2010

CB5 says NO to re-zoning!

Cb5 final vote to deny Vornado the rezoning, main reason was the greed, of Vornado, they are trying to "sell" the package as the next wave of the transportation hub, however the people are no fools, the supposed upgrade of the MTA is nothing more than smoke and mirrors, turns out Vornado has to upgrade the entrances to the subways anyway with or with out the rezoning, and they were attempting to get a huge re-zoning variance with a 20% bump in the area that they are re-zoning on top of it.  To quote a CB5 member "what they are asking for is way more then what they are offering".  One huge IMO issue that killed it was the fact that they have no tenants slotted for this disaster they call a project, that would even give a reason to ask for all this space.

The vote was 21-0-0-1.

Additional information on the meeting last night.  Below is a list of the companies that were in favor of the proposed plan.

Tri state transportation trust
NYC transit council
34 st partnership
The Penn group
Stonehenge partners
Madison Square Garden Corp
Building trade unions association
Utility union
Real estate board of NY
Newman real estate institute
Chief planner of NJ Transit
Columbia university real estate
Durst Residential