Approval granted for Midtown South rezoning, paving way for construction of approximately 9,500 new residences
New York City has taken a significant step towards addressing its housing shortage and affordability crisis with the approval of the Midtown South Mixed-Use (MSMX) rezoning plan. This plan, the first use of the Adams administration's "City of Yes" land-use initiative, marks a shift towards more permissive, pro-housing land use policy.
The "City of Yes" initiative was adopted by the New York City Council last December, and it is now being applied in the MSMX rezoning plan. This initiative aims to combat the housing crisis by lifting restrictive zoning barriers and promoting residential growth in transit-rich, centrally located neighborhoods.
The MSMX plan removes a decades-old ban on housing in parts of Midtown South, enabling the creation of nearly 10,000 new housing units, with about 3,000 of them permanently affordable. The plan introduces new, high-density residential zoning districts, specifically R11 and R12, allowing higher floor area ratios of 15 and 18. This permits the construction of taller and denser residential buildings than previously allowed.
Beyond housing, the plan allows mixed-use development and creates more inviting public spaces such as pedestrianized streets and a car-free busway. More than $325 million is allocated to transforming Broadway into a park-like promenade, plus investments in transit and industry support.
Manhattan City Council Member Erik Bottcher, who represents part of Midtown South, believes the MSMX plan will transform the area and increase New York City's housing stock. City Planning Commission Director Dan Garodnick shares this sentiment, stating that the MSMX plan will reinvigorate Manhattan's housing market and provide new opportunities for young New Yorkers.
The successful passage of the MSMX plan is credited to Speaker Adrienne Adams' efforts. The plan allows residential construction in 42 blocks between West 23rd and 40th Streets and Fifth and Eighth Avenues. It also clears the way for a new car-free busway on 34th Street aimed at reducing congestion.
A $122 million funding allocation is provided to support Garment District businesses as part of the MSMX plan. Richard Maroko, president of the Hotels and Gaming Trade Council, considers the MSMX plan a win for working New Yorkers. He believes the plan ensures that people who make the city run can continue to call it home.
With the MSMX plan, the Adams administration has passed its goal of permitting 100,000 new housing units through rezoning and text amendments. Over 2,800 homes in the MSMX plan will be rent-regulated affordable units.
Manhattan Council Member Bottcher believes that the MSMX plan addresses various issues including housing crisis, public space, infrastructure, transportation, arts, fashion, culture, and more. This initiative symbolically and technically represents a shift towards more permissive, pro-housing land use policy, a crucial step in addressing New York City's housing shortage and affordability crisis.
The "City of Yes" initiative, adopted by the New York City Council last December, is being applied in the Midtown South Mixed-Use (MSMX) rezoning plan, which aims to combat the city's housing crisis by lifting zoning barriers and promoting residential growth. The MSMX plan introduces new residential zoning districts and permits the construction of taller and denser buildings, enabling the creation of nearly 10,000 new housing units, with about 3,000 of them affordable. This shift towards more permissive land use policy is expected to reinvigorate New York City's housing market and provide new opportunities for investing in real-estate, particularly in the Midtown South area.
