12/02/08

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Harlem complex would move ahead with proposed rezoning

The New York City Planning Commission is scheduled to vote Wednesday on rezoning the area from 125th to 127th streets, between Second and Third avenues, for a 1.7 million-square-foot mixed-use complex. The city already owns 81 percent of the land designated for the project, and remaining property owners in the zone say they haven't had offers on their land yet, and are afraid the city will use eminent domain. The council is expected to pass the rezoning proposal, and developers Vornado Realty Trust, Thor Equities and General Growth Properties are already bidding on the project. 

More at: [Crain's]