Yet, is there a demand for such prime real estate? The Times argued that skyscrapers with just as

New York s Mayor Bloomberg is pushing for an updated zoning code for Midtown Manhattan which will affect the blocks around Grand Central Terminal and the Chrysler Building, and north toward the Waldorf-Astoria Hotel and Lever House.  This new code, called Midtown East, would replace existing building pont pleasant beach new jersey hotels height restrictions and allow high-rise towers to soar in the 70-block area currently outfitted with older buildings of lower stature.  If Midtown East is approved, developers would be able to build twice the size now permitted in the Grand Central area, bringing an estimated  16,000 employees in a neighborhood that now has 230,000 office pont pleasant beach new jersey hotels workers.
In such a densely populated area of Manhattan, what will be the urban implication of allowing building heights to soar past their current height regulation?  While the potential to increase pont pleasant beach new jersey hotels the real estate value is a driving force for such an initiative, will this financial gain outweigh the drawbacks of new stresses that will be placed upon existing infrastructure and city functioning?   The Bloomberg administration feels that such an initiative is needed to maintain the Grand Central area as one of the premier business addresses ; however, pont pleasant beach new jersey hotels  the community is not as fast to support the idea and regard the proposal as just another example of Bloomberg s latest attempts to make his mark on the city before his years in office are through.
It is expected that these new zoning regulations would allow newer buildings, following updated environmental standards, pont pleasant beach new jersey hotels to replace certain existing structures and dramatically increase FAR levels.  The plan would allow owners to acquire pont pleasant beach new jersey hotels air rights to build as high as 900 feet in the area immediately surrounding Grand Central, and upwards of 700 feet around Lexington and Madison avenues and East 39th and East 49th streets.
Steven Spinola, president of the Real Estate Board of New York, which represents pont pleasant beach new jersey hotels building owners and developers in the city, explained , "They've identified the fact that we've got, on average, 73-year-old buildings in the most important commercial district pont pleasant beach new jersey hotels in the world, pont pleasant beach new jersey hotels and we need to allow for new growth over the long term in that area.
There would be some restrictions to building pont pleasant beach new jersey hotels taller pont pleasant beach new jersey hotels for instance, projects would need to obtain a special permit which would be limited to key sites where developers would then be required to fund improvements to pedestrian areas and transit hubs.
Yet, is there a demand for such prime real estate?   The Times argued that skyscrapers with just as reputable locations, such as a 40-story office pont pleasant beach new jersey hotels tower at 11 Times Square, are still not filled.   And, some are worried that a new zoning code of this magnitude will simply pont pleasant beach new jersey hotels undercut existing pont pleasant beach new jersey hotels plans such as the World Trade Center site, and Hudson Yards on the West Side on Manhattan. Perhaps that is why this new zoning code would not go into effect until 2017, as so to eliminate any competition between Downtown or the West Side.
Midtown East Zoning still has a far way to go before it is approved, including pont pleasant beach new jersey hotels a complete an environmental review and approval process by the New York City Council.  Currently, the community board is voicing concern over the urgency of this plan, as it has left many questions  and concerns unanswered.