City moves ahead with plans to rezone Governors Island

The city is moving forward with plans to make way for 4.5 million square feet of development on Governors Island. The Trust for Governors Island held its first meeting this week to discuss rezoning part of the island for commercial real estate development, Crain’s reported. Though the island is zoned for residential use, a 2003 agreement with the federal government prevents the city from building housing. A 2010 masterplan for the island set aside 33 […]

Source: Real Estate

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