In all districts, the City Planning Commission may permit modification of any applicable yard, lot coverage, height and setback, and distance between buildings regulations, for a development on a zoning lot within a waterfront block, excluding any portion on a pier or new platform, provided the Commission finds that such modifications will not adversely affect access to light and air on surrounding waterfront public access areas, streets and properties; and

1. will result in a better site plan and a better relationship between the zoning lot and the adjacent streets, surrounding neighborhood, adjacent open areas and shoreline than would be possible through strict adherence to the regulations; or
2. are necessary to protect unique natural features such as rock outcroppings, significant grade changes or wetlands, or to accommodate existing buildings or other structures.