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Capital Cities/ABC project approved by City Planning.

After much negotiation and many revisions, Capital Cities/ABC last week received unanimous approval from the New York City Planning Commission for a plan that would expand its studio space ontheWest Side and make way for two apartment towers.

The Planning Commission okayed the construction of two 15,000- square-foot television studios for the northwest corner of West End Avenue and 64th Street. These buildings will adjoin the network's existing buildings.

Capital Cities/ABC will also sell development rights for two apartment towers, comprising 507 apartments, on the same Site.

Originally the network conceived three apartment towers and they had to lower building heights from 39 feet. Also as part of the agreement with City Planning, at least 12 percent of the apartments will be set aside for low- to middle-income residents. In addition, the network will restore an outdoor municipal pool and contribute to some infrastructure work.

This is the third project approved by City Planning for the former Penn Yards land along the Hudson River. Earlier decisions were in favor of Manhattan West and Riverside South.
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Title Annotation:New York, New York Commission on Planning approves construction of television studios and apartment towers
Publication:Real Estate Weekly
Date:Apr 7, 1993
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