03 Mar 20 Times Square: Conquering Times Square
Building Design & Construction November 13, 2018
No other place in the country generates more advertising revenue from building façades than Times Square. A single billboard can command upwards of $4 million per advertiser per year. Using the latest digital signage technology and creative building redevelopment plans, building owners and developers jockey for the primo positions to capture eyeballs along this famed commercial intersection.
The 20 Times Square mixed-used project at the corner of 47th and Seventh Avenue is indicative of the great lengths Building Teams will go in order to maximize real estate and media opportunities in Times Square. The project involved redeveloping portions of the historic Cecil B. DeMille building, pouring new foundations for the entire site, and then erecting a 42-story luxury hotel, retail, and entertainment tower on the compact, 16,000-sf property.
Demolishing the DeMille building would have been the easy route, but it would cost the developers precious billboard real estate. For new construction, the city requires a setback at 60 feet in height. This would have nearly halved the 110-foot-tall street wall that wrapped the DeMille building. To save its street wall height, the team would have to qualify for a special Alteration 1 permit.