June 5, 2018
The city released on Monday a plan to preserve at least 300,000 square feet of production space in the Garment District for the fashion industry by providing tax breaks for owners who lease manufacturing space. While the district, bound by 35th and 40th Streets and Broadway and Ninth Avenue, was once home to hundreds of thousands of fashion jobs, it has lost 85 percent of firms in the last three decades.
In addition to the tax incentives, the plan creates a new zoning rule that would help limit the construction of hotels by introducing a special permit. The Garment Center IDA program, backed by City Hall, the city's Economic Development Corporation, Manhattan Borough President Gale Brewer and industry leaders, also includes lifting previous protections from a 1987 mandate that preserves millions of square feet of apparel-production space on certain side streets. According to the Wall Street Journal, if the plan is approved by the city council, owners would be allowed to convert buildings to other uses, like offices.
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