Zoning for Dollars.
The top of the agenda for Wednesday's City Council meeting is a change to the zoning district designation of the 1051, 1037, and 1031 Boston Post Road properties from the B-1 Neighborhood Business District to the B-2 Central Business District.
What does that mean?
Rye City bought 1037 Boston Post Road – then the CVS Building, now Lesters – for $6 million during the Steve Otis days and is now thinking of various schemes to unload the property. Re-zoning would make the property more marketable but would also allow much heavier use, including up to 60 apartments, at the busy intersection by Rye City Hall.
From the City Council agenda details (see page 19):
"The proposed local law would allow for multi-family development on all floors. It is estimated that 72,000 square feet in a three-story building could yield approximately 60 units (i.e. 24,000 square feet and 20 units per floor), though the number of units could vary depending on unit size. Under the requirements of the “A” Parking District 68 parking spaces would be required1. Parking would be provided on the lowest level, which would be located under the building but at the same level of the existing grade at the rear of the building2. It is estimated that the maximum number of parking spaces that could be constructed on the site with a building located above is between 65 and 75 spaces."
What do you think of these ideas? Leave a comment below.