Times Square’s Palace Theatre overhaul includes outdoor stage and ‘ball drop’ suites
Rendering courtesy of TSX Broadway
A mixed-use development project hopes to bring even more bright lights and theatrics to Times Square. A team of developers, led by L&L Holding Company, will provide the ultimate New Year’s Eve experience at its new luxury hotel, part of the plan to transform the historic Palace Theatre into TSX Broadway. New renderings of the $2.5 billion project, which involves raising the theater more than 30 feet and building a 669-room hotel above it, show off suites with perfect views of the Times Square ball drop, the neighborhood’s first outdoor stage, and immersive retail experiences.
The Palace Theatre, which opened in 1913, was the country’s biggest vaudeville venue until 1929. In the late 1980s, construction began on the former DoubleTree Suites hotel and many billboards were added to the exterior. The project is being developed by L&L Holding, Fortress, and Maefield Development, along with the theater’s owner, the Nederlander Organization.
The Landmarks Preservation Commission approved designs from Platt Byard Dovell White Architects and Mancini Duffy for the redevelopment project in 2015, followed by the City Council three years later. While the theater will be lifted nearly 30 feet, its Beaux-Arts interiors, including historic paintings, plaster balcony fascia, and chandeliers, will be restored.
Renderings courtesy of TSX Broadway
The ambitious project will be the “first entire-building immersive experience” in the neighborhood, according to developers. In addition to roughly 75,000 square feet of experiential retail space, the 46-story luxury hotel will provide views of Times Square from every room via floor-to-ceiling windows.
For an unforgettable New Year’s Eve, the hotel plans to offer 30 “Ball Drop” suites that directly overlook the famous celebration. The New York Times previously reported that the suites could go up to $15,000 per night.
Adding to its allure, TSX Broadway will be the first building in the neighborhood to feature a permanent outdoor stage and concert arena, perfect for New Year’s Eve events. The design calls for a 4,000-square-foot stage that would hang 30 feet above Times Square.
“The future of Times Square will be shaped by its ability to maintain a lasting tradition of innovation and creativity,” David Levinson, CEO of L&L Holding, said in a statement.
“The area’s existing real estate is not equipped to host global brands with the most innovative technology. Through a dramatic intervention, TSX Broadway will replace an aging hotel and sub-par retail with a state-of-the-art, experiential global branding platform in the heart of Times Square, the most visited pedestrian destination on earth.”