Latest Stories In: Real Estate
City Planning Commission Approves SPURA Development Plan
Ready the cranes, pile-drivers, and backhoes. SPURA is entering a new era of redevelopment after lying fallow for fifty years. In a landmark decision, the City Planning Commission voted yesterday to approve plans to usher in 900 new apartments (half permanently affordable), 600,000 square-feet of commercial space, a hotel, park, community facilities, and new Essex Street Market. A hard rain is sure to fall…
But not quite yet. The CPC-endorsed plan must now make its way through City Council and cross the desk of Mayor Bloomberg. If ultimately approved, the SPURA site will be the largest redevelopment of city-owned land south of 96th Street. Can you spell G-O-L-D-R-U-S-H?
This will change the Lower East Side dynamic in no uncertain terms. Skyline, neighborhood composition, and all. Let’s keep fingers crossed that Wal-Mart stays away.
How do you feel about its passage?