Greenpoint-Williamsburg Rezoning (2005)
New York City rezoned a large swath of Brooklyn's north waterfront from manufacturing to residential use, one of the biggest zoning changes in the borough's history at the time. The change let developers build apartment towers on industrial land along the East River.
A building boom followed. Land values jumped and dozens of towers rose along the waterfront, reshaping Greenpoint and Williamsburg from industrial centers into bedroom neighborhoods.
Manufacturing largely left the area and rents rose sharply. The rezoning set the template for the current wave of nine-story rental buildings inland, like 488 Leonard Street.
Without the 2005 rezoning, a nine-story residential building would not be allowed on this block. The project is a direct descendant of that policy change.
