Monday, December 03, 2007

Bklink: Gowanus Rezoning

Ah, yes, the ongoing Gowanus rezoning. "Many developers aren't waiting for rezoning. Potential buyers are taking options on sites. Landlords are signing only short-term leases or insisting on 'demolition clauses' letting them evict tenants with six months' notice if a property is sold. A handful of hotels, which don't require rezoning, have gone up in the past 15 months. And one apartment developer, impatient with the Planning Department, is said to be exploring alternatives that could include office buildings, also allowable under current zoning."--Crain's

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