Land Use Success Story: M & H Realty
M & H Realty
Category: Real Estate Advisory
Problem: One of the major rezonings of City property in past couple decade in the City was the Greenpoint/Williamsburg rezoning in Brooklyn, which allowed a change in use from industrial to residential. M & H Realty, one of the largest land owners in Williamsburg, wanted to make sure that it had a voice in the rezoning negotiations between the local community, the Mayor’s Office (through the Department of City Planning) and the New York City Council.
Strategy: We determined that M & H Realty must develop strong working relationships with the key decision-makers in the process. Capalino+Company was also asked to advise M & H on the various land use opportunities so that M & H could maximize its economic value when the rezoning was passed.
Result: Capalino+Company worked closely with M & H, its architect and land use counsel to represent the Client before government officials during the course of the negotiations on the rezoning. The rezoning was adopted by the City in May 2005 creating significant economic value for M & H.