This megatower is not a done deal. We keep repeating this because it’s still true. Much as Bauhouse Group likes to boast that its megatower will go up, regardless of community wishes or zoning changes, there are signs that the construction of the development is far from ensured. The developer claims that our proposed zoning change cannot possibly pass through all the needed governmental approvals before the building goes up, but Bauhouse still doesn’t have the money it needs for the project. In fact, it owes a debt of $128.8 million to Gamma Real Estate, which is taking steps to foreclose on it. You can read more about the impending foreclosure in our latest news post.
Category: Blog Post
This week, after months and months of determined work, ERFA filed its rezoning plan with the Department of City Planning. It allows for sustainable and reasonable development, and also allows for 25% of new construction be allotted for affordable housing, in line with the Mayor’s current plan. Please do take a look at The ERFA Zoning Plan, our FAQ about it, and remember to sign up to get our updates too.
We’re excited to announce that the Friends of the Upper East Side Historic District has added its name to our list of supporters. We look forward to working with them to continue protecting our beloved Upper East Side and Far East Fifties.
There are those who are trying to frame the current NYC development situation as a “fight” between those who don’t want anything to change – the preservationists – against those who feel NYC needs more development to accommodate a growing population – the development advocates.
Here at ERFA, we don’t think it needs to be a choice. We can have both development and preservation, as long as there’s well devised planning and the needs of each community are kept in mind. Our built city needs to reflect all of our needs for not just buildings, but light, air, green spaces and livability. It might be “easy” to pit one group against the other, but the situation is simply too complex to be reduced to a boxing metaphor.