NYC Council Approves Midtown Rezoning, Paving Way for New Towers

The New York City Council voted to rezone about 78 blocks of east midtown Manhattan, enabling an aging building stock to be replaced by newer, larger and taller office towers. The aim of the rezoning, in the works for five years, is to make New York more competitive with other global financial capitals, such as London and Tokyo, which have done better in modernizing their office spaces.

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