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Land Use, Housing & Zoning

December 2007, Land Use & Zoning Committee

N080046 ZCM  APPLICATION BY GLADDEN PROPERTIES, LLC (“BOSTON PROPERTIES”), SHUBERT AND BOOTH THEATER, LLC (COLLECTIVELY, THE “APPLICANTS”) FOR CERTIFICATION BY THE CITY PLANNING COMMISSION PURSUANT TO SECTION 81-744(A) OF ...

N080045 ZAM APPLICATION BY GLADDEN PROPERTIES, LLC ("BOSTON PROPERTIES"), SHUBERT AND BOOTH THEATER, LLC (COLLECTIVELY, THE "APPLICANTS") FOR AUTHORIZATION  BY THE CITY PLANNING COMMISSION PURSUANT TO SECTION 81-744(B) OF THE ZONING RESOLUTION, PERMITTING  THE TRANSFER OF 48,204 SQUARE FEET OF AIR RIGHTS FROM THE BOOTH THEATER AND THE SHUBERT THEATER TO 250 WEST 55TH STREET

WHEREAS, The Shubert Theater, located at 225 West 44th Street, and the Booth Theater, located at 222 West 44th Street,  (together, the "Theaters") are legitimate theaters listed in ZR §81-742 and are permitted by the terms of ZR§81-744 to transfer unused air rights to a development site within the Theater Subdistrict; and

WHEREAS, ZR§81-744(a) permits the transfer of unused air rights by certification of the Commissioner of City Planning provided that: (a) the amount of floor area to be transferred increases the amount of floor area allowable on the receiving site by no more that 20%; (b) the allowable floor area of the granting site is reduced by the amount of floor area transferred; (c) the owner of the granting site agrees to continue the use of the granting site as a  legitimate theater for so long as the building constructed by using the transferred development rights is in existence; (d) and an amount of money equal to $14.91 for each square foot of development rights transferred is contributed to the Theater Subdistrict Fund; and

WHEREAS The Applicants have applied for a certification with regard to the transfer of 109,432 square feet of development rights from the Theaters to a receiving site at 250 West 55th Street for a proposed new commercial building; and

WHEREAS, ZR§81-744(b) permits the transfer of additional air rights (up to an increase of 20%) to development sites located in the Eight Avenue Corridor, provided that the proposed development (a) relates harmoniously to structures and open space in the vicinity and (b) serves to enhance or reinforce the general purposes of the Theater Subdistrict; and

WHEREAS,  The Applicants have applied for a authorization with regard to the transfer of 48,204 square feet of development rights from the Theaters to a receiving site at 250 West 55th Street, thereby permitting construction of a building totaling 689,362 square feet; and

WHEREAS, The proposed building is attractive in design, has a set-back tower and a 57' high retail and commercial base that is reflective of the massing of nearby townhouses, wide sidewalks, a third floor green landscaped terrace and is anticipated to earn LEED Gold status; and

WHEREAS; The Applicants have proposed making a 3,000 square foot space at ground level on 54th street available to theater related uses at favorable rents; and

WHEREAS, While no formula exists to determine what action would cause a development to "enhance or reinforce the general purposes of the Theater Subdistrict", a prior development receiving an authorization for the transfer of  28,900 dedicated approximately 3,000 square feet of commercial space at below market rent to be used by theater companies; and

WHEREAS, The Theater Subdistrict Council has now been created, to receive, manage and disburse funds paid to the Theater Subdistrict Fund: and

WHEREAS, Applicants have agreed to contribute $2,350,353 to the Theater Subdistrict Fund pursuant to both applications; and

WHEREAS, One existing building on the proposed development site still has rent-stabilized tenants who have not yet agreed to be relocated; therefore, be it

RESOLVED, That Community Board Five recommends approval with regard to the Application for a certification by the City Planning Commission pursuant to ZR§ 81-744(a), permitting  the transfer of air rights from the Theaters to 250 West 55th Street; and be it further

RESOLVED, That Community Board Five takes no action with regard to the Application for a authorization by the City Planning Commission pursuant to ZR§ 81-744(b), permitting  the transfer of air rights from the Theaters to 250 West 55th Street, however, the Board strongly urges the following:

• Boston Properties explore dedicating a larger space, suitable for theatrical performances and rehearsals as part of its commitment to enhancing the Theater District;

• A financial structure, insuring the affordability of the theater space for the present and future, be entered into, and put in binding form, before the authorization is granted;

• The members of the Theater Subdistrict Council, representatives of elected officials and the Community Board participate in the discussions regarding the theater space;

• In order to insure continued compliance with the Zoning Resolution and any specific agreements entered into as a part of the authorization process, the By-laws of the Theater Subdistrict Council be amended to include monitoring spaces dedicated to theater related purposes;

• Boston Properties explore additional methods of making the proposed building more environmentally friendly, including ways to raise its anticipated LEED rating, including the addition of bicycle racks;

• Boston Properties make every effort to reach satisfactory relocation agreements with the existing residential tenants on the site, and ameliorate conditions regarding adjacent buildings during the demolition process.

The above resolution passed by a vote of 27 in favor, 0 opposed, 1 abstention.