City planners are betting big on Midtown South — MidSo, if you will — launching a bold proposal to rezone a 42-block area near Penn Station to tackle the city’s housing crisis.
The plan could bring nearly 10,000 new apartments to the heart of Manhattan, transforming the struggling office district in the wake of COVID into a vibrant, round-the-clock neighborhood, according to city officials.
“It’s unfathomable that in an area this central, with a housing crisis this dire, that if you wanted to build housing here, our own rules would simply not allow it,” City Planning director Dan Garodnick said to reporters at a public briefing last week.
The plan is to rezone the area, dominated by struggling office buildings, to allow skyscraper apartments and office-to-residential conversions, creating nearly 10,000 new homes, including 2,800 affordable units. deberarr – stock.adobe.comThe Department of City Planning kicked off the process this week to reimagine the stretch between 23rd and 40th streets and Fifth and Eighth avenues. The move follows Mayor Eric Adams’ vision to breathe life into the Midtown office market by allowing residential conversions and skyscraper housing development.
The rezoning, officials say, could include up to 2,800 affordable housing units under rules requiring developers to cap rents for low- and middle-income tenants in at least 25% of new apartments.
“There’s a real opportunity to convert in a way that is more equitable and more affordable,” Rafael Cestero, CEO of the Community Preservation Corporation, told Gothamist.
The goal is transform the area into a more residential friendly neighborhood like the Financial District was transformed after 9/11. ImageFlow – stock.adobe.comThe plan draws inspiration from the transformation of the Financial District, which turned into a booming residential area after 9/11 with tax incentives, but critics warn against repeating FiDi’s mistakes.
The Financial District’s redevelopment didn’t mandate affordable housing, leaving low-income renters locked out.
Today, FiDi boasts some of Manhattan’s priciest rents and lowest poverty rates, according to NYU’s Furman Center.
With its prime location and unmatched transit access, the neighborhood is seen as a no-brainer for development. Gabriele Maltinti – stock.adobe.comSupporters argue that Midtown South, with its proximity to major transit hubs like Penn Station and the Port Authority, is perfect for a residential revival.
“It has so much transportation infrastructure,” Mitchell Moss, an NYU urban planning professor, told the outet. “It was made for more housing.”
The proposal already has the backing of key City Council members Keith Powers and Erik Bottcher, whose support will be critical when the Council votes later this year.
But critics say the plan doesn’t do enough for low-income New Yorkers, accusing the city of catering to developers over residents. deberarr – stock.adobe.comBut not everyone is on board.
John Mudd, president of the Midtown South Community Council, called the plan insufficient for addressing the city’s dire need for low-income housing.
The “community is craving” units that average New Yorkers can move into, he told Gothamist.
“They’re really talking about a drop in the bucket when it comes to housing for the people who really need it.”
