Demolition of the former DoubleTree Suites by Hilton has kicked off at 1568 Broadway to make way for a new 46-story mixed-use tower. The new structure will debut as TSX Broadway and is developed in collaboration by L&L Holding Company, Maefield Development, and Fortress Investment Group.
Preparation for the demolition of 1568 Broadway is continuing to gear up as scaffolding and construction netting now shroud almost the entire 46-story Times Square tower. The 29-year old structure served as a DoubleTree hotel and will be replaced by a new hotel, with tenants yet to be announced. The proposed 550,000-square-foot development is called TSX Broadway and will preserve and lift the 106-year-old Palace Theatre three stories above the ground floor to make way for new retail space. The $2.5 billion project is being developed by L&L Holding Company, Maefield Development, and Fortress Investment Group.
Black shrouds and scaffolding have gone up over 1568 Broadway’s lower floors as crews begin the process of removing its Times Square-facing billboards and marquees. Meanwhile, workers are beginning to gut the interiors of the 470-foot-tall tower ahead of its imminent demolition. Built in 1990, the current DoubleTree hotel will eventually make way for a new 46-story DoubleTree Suites by Hilton. The proposed 550,000-square-foot development, which will be called TSX Broadway, will preserve of the 106-year-old Palace Theatre by raising it three stories up from the ground floor, making way for retail space. The $2.5 billion project is being developed by L&L Holding Company, Maefield Development, and Fortress Investment Group. The site was previously purchased for $450 million.
While the flashing marquee lights and LED billboards of 1568 Broadway continue to brighten the crossroads of the world, the light bulbs and digital screens will one day turn off as the building prepares for demolition. Plans for the DoubleTree Suites by Hilton call for an entirely new 46-story, 550,000 square foot building dubbed TSX Broadway. The 106-year old Palace Theatre will be the only part of the original site to be preserved, structurally elevated, and integrated into the $2.5 billion dollar redevelopment. L&L Holding Company, Maefield Development, and Fortress Investment Group are the developers who purchased the site for $450 million dollars.
20 Times Square, aka 701 Seventh Avenue, is almost complete. The tower already has one of the largest LED screens in Times Square, spanning a whopping 18,000 square feet. In February, doors will officially open to the 517-foot, 42-story, 452-key Marriott Edition hotel, wrapped in glass panels and topped with the logo on its western and southern facades. Witkoff, Ian Schrager Company, Winthrop Realty Trust, and Maefield Development are the developers, while Platt Byard Dovell White Architects (PBDW Architects) is the project’s architect.