$2.5-billion retail/hotel project moving forward

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L&L Holding Co. is moving forward with its plans to bring a “premier entertainment, retail and hospitality experience” to Times Square. The company is working with Maefield Development, Fortress Investment Group and the Nederlander Organization on the $2.5-billion, 46-story development dubbed TSX Broadway.

The redevelopment will include an impeccably restored historic Palace Theatre; prime street front retail and entertainment space; a 17,000-sq.-ft. super-high-resolution new LED screen; and a 700-room luxury hotel.

The nearly 600-foot-tall structure will feature a 75,000-sq.-ft. retail space, an 18,000-sq.-ft. wraparound sign and an LED system across the entire 46-story façade, according to Crains New York.

The landmarked Palace Theatre will be lifted 29 feet and will have its historic interior restored to its original 1913 grandeur. According to the project’s website, the historic place will “benefit from renovations and expansion of its lobby, backstage operations and other public facilities.”

Construction will begin in early 2019, with completion by 2021.

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