An engineering “miracle” is being done to raise Broadway’s iconic “Palace Theater” 30 feet off the ground, and preserve it in New York’s Times Square.
Yesterday morning construction crews began to lift the iconic three-story theater, opened in 1913, for what Now be part of a great tower (TXS Broadway) 46-story building valued at $ 2.5 billion, currently under construction at 7th and Broadway avenues with 47th St.
Raising the “Palace Theater” will preserve that iconic New York location and also free up ground floor space for commercial use. “The uprising consists of elevate a 1,700-seat theater in its entirety 30 feet from its current height, “he told ABC News Robert Israel, Executive Vice President of L&L Holding Company.
“Everyone wanted to perform here and many famous artists performed, Liza Minelli, the Marx Brothers, Frank Sinatra “, listed David Levinson, president and CEO of L&L Holding Company.
Because of the story and because of the structure, developers must be very careful. “This is the busiest corner in the Western Hemisphere and there was no retail space here, and it’s probably the most valuable retail space in the world,” Levinson said.
The TXS Broadway development will include a new 46-story tower with hotel rooms, restaurants and experiential space, including a stage that overlooks Times Square, while the historic “Palace Theater” will be tucked inside.
“This is the busiest corner in the Western Hemisphere and there was no commercial space here.”
David Levinson, President and CEO of L&L Holding Company
Five years of planning went into the innovative rise of the theater. “The theater weighs about 5 million pounds, what we’re really doing, the way we’re lifting the theater itself is that we have 34 specifically placed lifting poles.”said Israel.
Those hydraulically controlled steel posts essentially push the theater up, and a 5-foot-thick concrete cushion protects the theater from below. “All the lifting poles were 100% custom made for this installation and lift,” Israel added.
It will take six to eight weeks to raise the Palace Theater 30 feet, as the lift only moves about a quarter of an inch per hour. The theater will then undergo a $ 50 million renovation, a small part of the $ 2.5 billion project.