Recently, New Construction Manhattan pondered the effects of the Department of City Planning’s rezoning proposal for North Tribeca. We asked whether or not prices would go down as new construction would be more readily approved, and our cop out prediction was that we had no particular answer. And while that may hold true for the next neighborhood we want to analyze, there are some general trends that are of particular interest.
Closely related to Chelsea
(and you can make as many puns about those names as you’d like) is a rapidly-developing neighborhood stretching from Eighth Avenue to the Hudson River from 42nd Street to 59th Street, a subsection of Midtown West
. Whereas the former is now largely mixed-use, with a particular emphasis on balancing residential and commercial growth, that has made the transition from manufacturing, the latter is currently in an identity crisis. For the most part zoned for manufacturing and low-density residential, the recent high-rise condo boom, which has produced the Hudson Hill Condominiums
, The 505
, and The Atelier
among others, as well as the proposed redevelopment of the Hudson Yards to the south have made, at least in the minds of the folks at the Department of City Planning, re-zoning a necessity in this about-to-explode neighborhood.