Chelsea Market Rezoning Up For Debate

NEW YORK CITY-The fate of Chelsea Market’s expansion plan will be up for discussion at a town hall meeting at Holy Apostles Church on 296 9^th Ave. Thursday evening. Residents of Manhattan’s Community Board 4 will have the opportunity to weigh-in about the positives and negatives of Jamestown Properties’ proposal to construct new office and hotel space here.

The Atlanta-based developer is seeking a rezoning change to pave the way for a 300,000-square-foot tower above the existing market and a new hotel on the corner of 16^th St. and 9^th Ave. GlobeSt.com previously reported that Jamestown secured a $380 million loan for the recapitalization of the market, buying out its partners Angelo, Gordon & Co., Belvedere Capital and developer Irwin Cohen in the mixed-use complex. The loan was financed through German bank Landesbank Baden-Wurttemberg and was arranged by CBRE’s Capital Markets Group.