The New York City Council approved the Midtown South Mixed-Use (MSMX) Plan earlier this month, rezoning a 42-block area of midtown Manhattan to allow residential development where it was previously restricted. The approved plan is supported by $448 million in community and infrastructure investments to support the changes.
The plan allows for the development of approximately 10,000 housing units, including 2,800 permanently affordable units.
While MSMX does not fund construction, as part of the “City of Yes” initiative, it offers tools like density bumps in exchange for affordability and zoning that promotes lower development costs.
The council’s rezoning is an effort to address New York City’s housing shortage, while maintaining a balance with the economic activity of the Garment District, fostering a 24/7 community in midtown.
At least $120 million is committed to support fashion and garment industry businesses for retaining industry space, workforce development and economic resources. It also gives zoning protection provisions to ensure that industry space is not lost to other commercial interests.
The remaining approximately $325 million focuses on transforming Broadway into a pedestrian promenade between 21st and 42nd Streets, building a car-free busway on 34th Street and making other investments in parks, transit, streets and local services, such as schools, emergency services and Bellevue Hospital.
Photo by Lukas Kloeppel from Pexels
