Construction has officially topped out on TSX Broadway, a 46-story mixed-use hotel tower at 1568 Broadway in Times Square. Designed by Perkins Eastman and Mancini Duffy and developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall structure will yield 550,000 square feet with a 669-key hotel, retail space, restaurants, and an outdoor performance venue that overlooks Times Square. The building will also serve as the new home of the historic Palace Theatre, which is being raised 30 feet to make room for ground-floor retail space. The project is projected to cost $2.5 billion and debut early 2023.
“We are proud to announce the topping off of TSX Broadway, a project that is revitalizing Times Square and emerging as a symbol of hope for New York City in one of its most iconic destinations,” said David W. Levinson, chairman and CEO of L&L Holding Company. “While the vision for this project has remained the same since its inception, the world around it has drastically changed—making TSX Broadway even more relevant for what a new development should look and feel like in our current moment.”
Rendering of TSX Broadway – Courtesy of L&L Holding Company
Topping-out event at TSX Broadway (1568 Broadway) – Courtesy of L&L Holding Company
At the beginning of 2022, construction teams began a delicate, multi-phase integration of the existing Palace Theatre. Led by PBDW Architects, this involves raising the venue with massive hydraulic lifts installed beneath the foundation. The building’s hotel volume will be built around the theater and a new retail corridor installed below.
View of the hydraulic lift system below the Palace Theatre at TSX Broadway
“Today marks an incredibly exciting milestone for a one-of-a-kind project,” said Robert Israel, executive vice president of L&L Holding Company. “Through the challenges of the past few years and the extensive design process, it is an honor to have watched this building rise above Times Square.”
The project team for TSX Broadway also includes Sensory Interactive, which designed the building’s LED programming and branded signage. Pavarini McGovern is the project’s general contractor.
The new LED wrap-around signage on 1568 Broadway across from the TKTS staircase – Courtesy of L&L Holding Company
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The new LED wrap-around signage, on 1568 Broadway across from the TKTS staircase. Steal the show at the very best, night or day views it should showcase: Thank you.
Hopefully they will get rid of all the scaffolding and barricades in the area at some point.
The party in the sky.
Fun fact: The Three Stooges booked a run at The Palace in March 1930! Kudos for saving this historic venue!
I feel one major component of Times Square being awful is the amount of Construction that is going on everywhere and blocking the sidewalks and plazas. Hopefully the half dozen or so projects in the area start to finish up soon and the area gets a little more tolerable with some semblance of a streetscape.