You might already be aware of what Monitor Point could entail, but we'll give you a refresher just in case: developers plan to construct two new massive residential towers on the Bushwick Inlet, leasing the land from the MTA. Some local residents fear that more high-rise housing will drive up rents and damage the inlet's ecosystem. The project's supporters say that the housing, some of it permanently affordable, is needed to keep up with the high demand
Zoning can be used in many ways by owners, investors and developers to add value to their properties. First, as we have previously discussed, there are discretionary approvals available through the Uniform Land Use Review Procedure (ULURP). One type of discretionary approval through ULURP is a rezoning, which would change the property's zoning district designation. A rezoning could increase the amount of buildable square footage a property is allowed, and/or change the allowed use altogether, for example, from commercial or industrial to residential.