New $2.5B TSX Broadway Project Meant to Revamp NYC Times Square
New York City’s Times Square is already one of the most exciting places to visit, and with new construction, it is about to rival Las Vegas when it comes to entertainment. Times Square will be ready to start construction in late 2019 with the new $2.5 billion TSX Broadway Project. This project is meant to take real estate to a new level by using experiential interior functions and building exteriors that act as unique platforms for advertising and marketing.
According to a report done earlier this year from “Total Retail,” experiential retail is a major trend in the industry in response to the continuing increase of mobile devices, reduced traffic through malls and the shift to e-commerce. Experiential retail surrounds a wide variety of strategies, such as virtual and augmented reality, to attract and engage shoppers, which the TSX Broadway Project plans to include in this project (https://bit.ly/2B1nUad).
Meafiled Development and Fortress Investment Group, L&L Holding Company purchased the DoubleTree Suites by Hilton, located on seventh avenue and west 47th for $450 million. They plan to demolish the existing hotel and create a new 550,000 square foot, 46-story skyscraper named TSX Broadway. This bold engineering plan is part of L&L Holding Company’s strategy to create a new marketing and retail platform to appeal to a larger international audience with the latest in advertising technology (https://bit.ly/2QLF4vE).
David Levinson, chairman and CEO of L&L Holding Company stated, “The area’s existing real estate is not equipped to host global brands with the most innovative technology. Through dramatic interventions, TSX Broadway will replace an aging hotel and sub-par retail with a stare of the art, experiential, global branding platform in the heart of Times Square,” (https://bit.ly/2Cc7bA7).
On the first floor, visitors will enter through a 100-foot storefront and come through a 15,000 square foot retail space. There are plans to have a total of nine floors for additional retail space that will total close to 75,000 square feet. On a separate side of this structure, there will be an additional entrance designated for the dining portion, spanning 30,000 square feet and marked with a 90-foot exterior sign. The project plans for the third floor to be a public outdoor platform and integrate the 105-year-old Palace Theater. This historic structure will be lifted from its original foundation and placed 30 feet above street level on the third floor of TSX Broadway (https://bit.ly/2Cc7bA7).
The TSX Broadway Project is predicted to be completed in 2021. This development will take full advantage of being in one of the most visible and highly pedestrian trafficked locations in the world. The future of Times Square relies on the use of technology and creativity, and here at hh2 Cloud Services, we agree. hh2 Cloud Services creates state of the art software for construction. To learn more about how cloud-based software can help your company with new construction projects, visit www.hh2.com or visit hh2 Cloud Services on Facebook (https://bit.ly/2PaSAYM).