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.
New photos show the state of work on the structure, which is located at the corner of Seventh Avenue and West 47th Street.
The black netting now covers all but a small section around the midpoint of the building, and will soon envelope the entire 470-foot-tall superstructure. The digital billboards and flashing marquees have been dismantled and removed from the lower levels, temporarily exposing mechanical vents and massive diagonal trusses that support the building.
Renderings of the new structure show a cantilevered balcony three stories above street level surrounded by an expansive wraparound LED screen, which will be among the largest digital billboards in Times Square. An outdoor terrace will sit above the screen and form the top of the podium section. The upper portion of the tower is set back and maintains a similar massing to the building that currently occupies the site, suggesting that the superstructure may be preserved. It appears that the new hotel will feature a reflective and transparent glass curtain wall.
A completion date for 1568 Broadway has been announced and scheduled for 2022.