Construction on TSX Broadway has reached a significant milestone with the completion of the historic Palace Theatre’s lift to its new position 30 feet above street level within the podium of the 47-story Times Square hotel tower. The engineering challenge was overseen by Urban Foundation and Engineering and used a system of 34 hydraulic jacks to hoist the 14-million-pound venue at a speed of about a quarter of an inch per hour over the span of four months. Work will now commence on PBDW Architects‘ restoration of the theater, whose new elevated position will make way for 100,000 square feet of retail space at the base of the structure.
Parkview Financial recently provided a $92 million construction loan to facilitate the completion of a ten-story commercial building at 1498-1538 Coney Island Avenue in Midwood, Brooklyn. The building will comprise over 215,000 square feet of retail, office space, and community facilities.
Construction has topped out on 555 Greenwich, a 16-story commercial building in Hudson Square, Manhattan. Designed by COOKFOX Architects and developed by the joint venture Hudson Square Properties, which includes Trinity Church Wall Street, Hines, and Norges Bank Investment Management, the 270,000-square-foot structure connects on nearly every floor to the adjacent 345 Hudson Street via a horizontal overbuild for a total of 715,000 square feet of leasable office space, with floor plates up to 87,000 square feet each. Tishman Construction is the contractor for the property, which is located on a rectangular plot of land bound by Greenwich Street to the west, Charlton Street to the south, and King Street to the north.
Below-grade work is progressing at 425 Summit Avenue, the site of a 26-story mixed-use tower in the Journal Square neighborhood of Jersey City. Designed by Marchetto Higgins Stieve and developed by Spitzer Enterprises, the 356,000-square-foot structure will yield 390 residential units, around 3,800 square feet of ground-floor retail space, 3,660 square feet of amenities, and on-site parking for 51 vehicles. ZDG is the general contractor for the property, which is located at the corner of Summit and Sip Avenues, a short walk from the Journal Square PATH station.
Construction has passed the halfway mark on 413 Summit Avenue, a 19-story residential tower in the Journal Square section of Jersey City. Designed by Uforma and developed by Titanium Realty Group, the 125,000-square-foot structure will yield 148 units in studio to two-bedroom layouts, as well as 4,900 square feet of ground-floor retail space and on-site parking for 16 vehicles. The project is located on a plot between Sip Avenue to the north and Newkirk Street to the south, a short walk from the Journal Square PATH station with access to downtown Jersey City, the World Trade Center, Newport, Hoboken, Midtown, and Newark Penn Station.