Opponents: Downzone To Put Burg on 'Teetering Edge' of Doom

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The downzoning of Grand Street and some surround blocks in Williamsburg has moved with lightning speed, mostly in response to two planned Karl Fischer towers. This past weekend, however, some local property owners starting sending out email blasts bout their opposition to the rezoning--primarily that limiting buildings to 4-6 stories will hurt them. The mini-revolt makes this morning's Post, which puts the cost of the rezoning at $120 million. Meanwhile, an email from a new group called the Grand Home and Business Owner's Organization says it will "cost" $400 million, actually.They say the developer of the "Karl Fischer Monster Tower" is "prepared to immediately sign-off on an agreement" limiting the building to six stories without a downzoning. Interestingly, simultaneous demolition, excavation and construction are going on on the Fischer site, indicating that the developer could be involved in a serious game of Beat the Downzone. (Another email says the rezoning "will once again put Williamsburg on the teetering edge" of "neglect, rampant crime, and out and out lawlessness.") A City Council vote on the downzoning, which covers more than 250 properties, could come as early as this week. Stay tuned as to whether the Hot Karl at Grand and Driggs will go to 15 stories or be cut in half or whether doom occurs.
· W'burg Groaning Over Rezoning [NYP]
· Karl Fischer Playing Beat the Downzone on Grand Street? [Curbed]
· Will Burg's Grand Street Rezoning Chop Karl Fischer Towers? [Curbed]

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