The Uniform Land Use Review Procedure for the North Tribeca rezoning began this week. The proposed rezoning stretches from Canal and West streets to Walker Street and Broadway. The proposal will allow the exsiting manufacturing district to include residential conversation and provide height limitations.

An interim rental rate, agreed upon by Stuvesant Town and Peter Cooper Village residents and Tishman Speyer and BlackRock Realty, will continue through December 2010. The agreement allows tenants to pay the "lower of either their existing rent or their estimated rent-stabilized rent." In addition, the agreement covers rights that are guaranteed under New York City's rent stabilization laws.

Since early March, sections of Pacific Street and Fifth Avenue have been closed as a result of Nets arena construction. As a result, the area now faces high levels of gridlock, especially during rush hour. The developer of Atlantic Yards pledged to address the problem; the New York City Department of Transportation will assess the effectiveness of Forest City Ratner's actions before intervening.

In 2008, plans for a second station on the No. 7 extension, at 41st Street and 10th Avenue, were cut due to funding shortfalls. Now, the Real Estate Board of New York (RENBY) is encouraging the Bloomberg Administration to reconsider a second station at the site.

This week, the Department of Housing Preservation and Development released a request for proposals for the 5 million square foot Hunters Point South complex. The complex will have 5,000 apartments, of which 60% will be affordable units.