July 13, 2012

Howard Zipser was quoted in a GlobeSt.com article, "Midtown East Upzoning Plan Raises Debate Over Skyscraper District," regarding the rezoning of Midtown New York City. The New York City Department of Planning unveiled plans to rezone parts of Madison and Lexington Avenues to allow taller skyscrapers in Midtown East. The proposal will allow for developers to build bigger—and better—buildings in close proximity to existing corporations, institutions, and landmarks. 

Zipser stated, "People think that zoning enables development, and that’s only partially true because what it does do is eliminate or streamline some of the process toward the approval of a proposed building, but it doesn’t relate to financing, interest rates, office demand and all of those factors have to coalesce with a zoning change or with a zone special permit which enables new development. It is not simple, but it is certainly a first step. But just because the city fathers want to increase density, it doesn’t mean that development will automatically follow."