The New York City Council has approved a zoning amendment for 'The Beacon' project at 413 East 120th Street in Manhattan, changing the zoning from R7-2 and R7X to R8. This approval allows for the development of a mixed-use project, including affordable housing units, commercial spaces, and community amenities. The project site also involves an amendment to the City Map, eliminating and discontinuing a portion of East 120th Street. This rezoning is part of an Urban Development Action Area Project (UDAAP) aimed at revitalizing the neighborhood and increasing housing availability. The development will be subject to Mandatory Inclusionary Housing (MIH) requirements, ensuring a portion of the units are reserved for low-income residents.
This decision supports New York City's commitment to affordable housing and urban redevelopment. By rezoning the site to R8 and implementing Mandatory Inclusionary Housing, the city aims to increase residential density while providing critical housing for low-income residents.