Demolition for $2.5B Times Square hotel begins

Demolition has started on the former Doubletree Hotel in Times Square, paving the way for a plan to bring a massive new hotel and “experiential retail” hub to one of the most heavily trafficked corners in Manhattan.

Developer L&L Holdings hopes to complete by 2022 its $2.5 billion plan for a new 46-story tower at 1568 Broadway, called TSX Broadway, which will include a substantial renovation of the century-old Palace Theater. But first, the developer must tear down the existing 46-story hotel on the site, which sits on a corner of Times Square that last year saw 67 million visitors.

“You take it very slowly and with a lot of planning,” said David Orowitz, managing director at L&L Holdings, which is working with partners Maefield Development and Fortress Investment Group.

Crews started the process of destroying the building floor by floor last week, starting with the 46th level. The debris and rubble from the old floors will be sorted and fired down the chute—the building’s former elevator shaft—to a crash pad at the bottom of the building.
Original Post: Crains New York