Demolition of the former DoubleTree Suites by Hilton has kicked off at 1568 Broadway to make way for a new 46-story mixed-use tower. The new structure will debut as TSX Broadway and is developed in collaboration by L&L Holding Company, Maefield Development, and Fortress Investment Group.
Platt Byard Dovell White Architects and Mancini Duffy served as design architects for the entire project, which is expected to be completed by 2022. Commercial spaces within will be delivered to tenants by 2021. When complete, the new TSX Broadway will comprise 550,000 square feet with a total estimated construction cost of $2.5 billion.
Located at 47th Street and Broadway, one of the busiest corners of Times Square, the existing 29-year-old building will be completely gutted using a technique that requires hardening of the building’s elevator shafts to create debris chutes that allow for easy removal of the structure.
New components will introduce 75,000 square feet of retail space spanning the first ten floors of the building, a 4,000-square-foot performance venue that will include the area’s only permanent outdoor stage, 30,000 square feet of dining area, a 669-key hotel, and 51,000 square feet of illuminated signage.
Approximately 25 percent of the existing structure will be retained, including the historic Palace Theater, which currently resides at ground level. To make room for the new retail component and a modernized lobby, The Palace Theatre will be lifted 30 feet from its original position and reintegrated as part of the building’s six-floor podium.
The structure’s exterior LED signage is a feat in itself and will include a 3,000-square-foot illuminated billboard on the southern-facing wall, a trio of 420-square-foot billboards at the apex of the structure, and about 18,000 square feet of signage that will surround the new performance venue.
Renderings revealed earlier this year offered a first look at the outdoor stage and enveloping signage. An outdoor terrace is positioned immediately above the LED wall at the top of the podium section. Upper portions of the hotel tower are gradually set back and transition into a reflective glass façade.