From the NY Post:
Zone it and they will come.
At least that's what the developer of a proposed behemoth of a tower on the site of the Hotel Pennsylvania is hoping now that city planners yesterday approved zoning changes needed to build a skyscraper taller than the Chrysler Building.
The approvals more than double the size of a building that could go up on Seventh Avenue, between 33rd and 32nd Streets, where developer Vornado wants to build as much as 2.83 million square feet of office space.
Final approval rests with the City Council.
No construction is expected until Vornado signs a major tenant for the project.
Planning Commissioner Amanda Burden praised the proposed tower, citing its location across Seventh Avenue from the key transit hub of Penn Station.
The tower, with 67 floors and up to 1,216 feet, would be the city's third tallest after the Empire State and Bank of America buildings. But completion in 2013 of 1 World Trade Center, formerly known as the Freedom Tower, would bump the Penn Plaza tower down to fourth place.