Images courtesy of TSX Broadway
The redevelopment of a historic Times Square theater hit a major milestone this week. L&L Holding Company on Wednesday announced the 30-foot lift of the Palace Theatre is completed after seven weeks. The project is part of TSX Broadway, a 46-story $2.5 billion mixed-use development set to open next year with a performance venue, 660-key hotel, retail, and a restored theater on the third floor. Using techniques that defied traditional engineering, the theater’s lifting unlocks 100,000 square feet of retail and entertainment space.
Image courtesy of TSX Broadway
One of the most city’s most iconic Broadway theaters, the Palace Theater, began its rise last week to a spot 30 feet over Times Square. The 105-year-old theater is being lifted three stories as part of a $2.5 billion mixed-use development project, TSX Broadway, set to rise at 1568 Broadway. It will take six to eight weeks for the theater to achieve its final height of 30 feet.
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Rendering of the Palace Theatre entrance via Maefield Development
Two years since the plan’s approval by the LPC, the redevelopment of the historic Palace Theatre at 1568 Broadway is nearly ready to take off. The theater will be raised 29 feet above its current level, making room for 70,000 square feet of new retail and entertainment space. With help earlier this month from L&L Holding Company, who became an equity and development partner, the ambitious project continues to progress; as CityRealty discovered, new renderings show the theater enveloped by an expanded Doubletree Guest Suites hotel, a new glass facade, and a sweeping LED screen at its podium. And though the gilded Beaux-Arts interiors will be preserved (they’re interior landmarks), some preservationists have expressed concerns that moving the actual structure is a bit too aggressive.
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At a public hearing yesterday the Landmarks Preservation Commission approved a plan drawn up by Platt Byard Dovell White Architects (PBDW) for Maefield Development to raise the historic 1913 Palace Theater 29 feet in order to accommodate expanded facilities and new retail space underneath. The decision isn’t sitting well with preservationists, but the exterior of the theater was replaced in the early 1990s to make way for the 45-story adjacent DoubleTree hotel, and as the Wall Street Journal reports, the actual theater space is an interior landmark and the $2 billion redevelopment project will restore the decorated interior and add 10,000 square feet of theater facilities.
More on the history and future of the Palace Theater