SPURA Plan approved by City Planning Commission
It’s official; the City Planning Commission approved the re-development of the Seward Park Urban Renewal Area (SPURA) this morning. SPURA is the largest tract of undeveloped New York City-owned land in Manhattan south of 96th Street. The decision was unanimous and the next step for the development is for the City Council to approve the land use plan. Once the City Council approves the plan, the bidding from developers will begin. The best proposal will be selected by the city with help of the competent community board.
It can be expected that luxury condominium buildings close to SPURA will increase in value soon like the Blue Condominium and 115 Norfolk Street. Because if there’s one thing Manhattan needs, it’s more luxury housing.