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Times Square Will See Full-Building Branding Platform
L&L Holding Company, Maefield Development and Fortress Investment Group have unveiled plans for TSX Broadway, a ground-up, full-building promotional platform said to be the first of its kind. Construction on the $2.5-billion project at 1568 Broadway, which will include a permanent outdoor stage suspended 30 feet above Times Square, is scheduled to begin this winter.
Times Square’s existing real estate, said L&L CEO David Levinson, isn’t up to the task of hosting “global brands with the most innovative technology.”
Via “a dramatic intervention,” Levinson continued, “TSX Broadway will replace an aging hotel and sub-par retail with a state-of-the-art, experiential global branding platform” located in “the most visited pedestrian destination on earth.”
The existing structure at 1568 Broadway will be demolished and replaced with a 46-story tower that can be illuminated as a “branding beacon” via a full-building lighting system. There will also be 75,000 square feet of ground-floor retail.
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