T
he City of Yes is moving towards a City Council vote, and Magnusson Architecture and Planning is working on the final project of Melrose Commons, which consists of redeveloping 33 blocks in the South Bronx. The site, dubbed Cornerstone B2, could potentially have more residential space if Universal Affordability Preference (UAP) is included in the City of Yes for Housing Opportunity text amendment. UAP provides a 20% increase in density for affordable housing projects. If UAP is included along with a separate request to lift a height cap, the project could potentially have 200 apartments instead of 94.
Magnus Magnussen, founder of Magnusson Architecture and Planning, shared in an interview that they are designing buildings in two ways due to the holding pattern caused by the proposal's delay in reaching a final vote before the end of the year. The City Planning Commission is expected to vote on the text amendment on September 25, after which it will be sent to the City Council for further discussion.
The proposal includes several changes that could significantly impact projects, such as allowing more office-to-residential conversions, eliminating parking mandates, and reducing rear and side yard requirements. These changes could make a big difference to projects like Melrose Commons, which could serve as a template for comprehensive and sustainable development.
The hearing on the hotel licensing bill is still uncertain, and the world's largest yard sale, touted as the 127 Sale, spans six states, according to the New Yorker. In other news, Dan Garodnick has appointed Lin Zeng and Kathi Ko as director and deputy director of the agency's Queens office respectively. Additionally, Sen. Jessica Ramos has announced her candidacy for mayor next year, while Assembly member Emily Gallagher and Sen. Julia Salazar have called on Mayor Eric Adams to step down amid various federal investigations.
Council member Lincoln Restler has introduced a bill that would allow elected officials to meet with members of the mayor's administration without filling out a form first. The largest residential sale was $43.5 million for a 7,587-square-foot condominium at 217 West 57th Street in Midtown. The largest commercial sale was $20 million for a portfolio of seven apartment buildings with a combined 57 units located at 437-450 61st Street in Sunset Park. The highest price for a residential property hitting the market was $20 million for a 5,225-square-foot townhouse at 19 East 92nd Street in Carnegie Hill. The largest new building application filed was 140,233-square-feet for an 18-story mixed-use project at 200 West 88th Street on the Upper West Side.
