Expected City Ruling on 'Condo-Hotels.'
Dear friend,
As early as October, the City is expected to rule on whether or not “condo-hotels”—developments where individuals buy apartments they live in part-time or year-round and rent out the remainder of the year—will be allowed for the first time EVER in manufacturing zones such as those in your neighborhood. IF CONDO HOTELS ARE ALLOWED, IT MAY WELL CHANGE THE FACE OF YOUR NEIGHBORHOOD FOREVER.
Zoning prohibits new residential development in manufacturing zones, but allows development of transient hotels, which has generally been understood to mean places where rooms rent on a daily basis and people stay no more than 30 days. However, Donald Trump and partners are seeking a ruling from the City that “condo-hotels,” where people own units and live there for much or all of the year, are actually transient hotels and NOT residences, and therefore SHOULD be allowed in these manufacturing zones. Condo-hotel developments in manufacturing zones will almost undoubtedly take the form of tall, setback towers, and because land prices are generally lower in manufacturing zones, condo-hotel development would no doubt strongly gravitate there if allowed. Condo-hotel developments have been EXPLODING around the country, and developers have been looking to break into the New York market. THUS IF THE CITY RULES IN TRUMP’S FAVOR, THESE NEIGHBORHOODS COULD SEE A HUGE WAVE OF CONDO-HOTEL DEVELOPMENT.
This will have several effects:
1. It will encourage high-rise development of luxury residential and hotel units in these areas.
2. It will help push out area businesses, which are supposed to be protected by zoning from competition from residential development, thereby changing the character of these neighborhoods.
3. It will circumvent the possibility of these communities considering zoning changes to only allow residential development which is appropriate for the area in terms of height, size, and location.
4. It will undermine hard-fought-for provisions to encourage the creation of affordable housing in recently rezoned neighborhoods like West Chelsea, Hell’s Kitchen, and Williamsburg/Greenpoint, by opening up new areas of these neighborhoods to luxury housing development without the agreed-to affordable housing incentives attached.
Next: 10/06/06
Previous: 09/12/06
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