One Times Square, aka the Times Tower, is one of the most photographed buildings in the world. Millions of tourists from across the country and around the world constantly take photos of Times Square, formerly called Longacre Square, and the flashing digital advertisements that run nonstop year round. Even more view it during the annual ball drop and lighting of the four numbers at the start of every year since 1904. The culturally iconic and economically famous 25-story skyscraper stands 363 feet tall and is in the midst of getting a 21st century makeover. Six giant screens that once lit the slender northern wall have been taken down and will be consolidated into one 350-foot-tall LED panel. Jamestown is the owner of the property. One Times Square can be touted as the most expensive and lucrative place on the planet to advertise.
Jamestown is planning to convert the basement level of Chelsea Market – a 1.2-million-square-foot, multi-use commercial complex located on the block bound by Ninth and Tenth avenues and West 15th and 16th streets, at 75 Ninth Avenue in southern Chelsea – into retail space. The conversion of the basement would double the retail space of the property to 80,000 square feet, according to Crain’s. The basement would be made into a single corridor similar to how the ground floor is currently configured with retailers. The project is expected to take five years. After the retail expansion, and pending an anchor tenant, the owners plan to vertically expand the complex’s office space by roughly 300,000 square feet. The office plans passed the city’s Uniform Land Use Review Procedure (ULURP) in 2012.
In March, details were revealed of the proposed rezoning of Industry City – a six-million-square-foot industrial-commercial complex – located west of the Gowanus Expressway, in Greenwood and Sunset Park. The developers – Jamestown Properties, Belvedere Capital, and Angelo Gordon – are now moving forward with a piece of the overall redevelopment that is independent of the rezoning. Building 19, at 168 39th Street (a.k.a. 148 39th Street), on the corner of Second Avenue, is going to be converted into 500,000 square feet of office space, according to Commercial Observer. The office space will be located across the first seven floors of the building. The conversion will feature a new lobby, new windows, and upgrades to infrastructure and equipment, like the installation of modern elevators. The Brooklyn Nets recently completed their new 70,000 square-foot training facility, called the Hospital for Special Surgery Training Center, on the eighth floor of the building.
A year ago, news broke that Jamestown, Belvedere Capital, and Angelo Gordon announced plans to infuse $1 billion to renovate and redevelopment parts of the the 16-building, six-million-square-foot industrial complex, dubbed Industry City, located west of the Gowanus Expressway, in Greenwood. Crain’s now reports the developers are scrapping plans to build a 150,000-square-foot student dormitory at the 32-acre site. The complex’s proposed rezoning still includes the construction of significant retail space and two hotel buildings. Renovation work currently under way includes new windows, elevators, and interiors, and the complex is presently home to manufacturing uses and office space of a variety of sorts. The developers expect to begin the city’s Urban Land Use Review Procedure (ULURP) before 2017.
There hasn’t been any news on the Chelsea Market expansion since it was approved back in 2012 (has it really been that long?), but YIMBY has stumbled upon some renderings that show the project from…