The Empire State Development Board approved a substantial renovation plan for 5 Times Square, transitioning it from a largely vacant office building into a mixed-use residential complex. This redevelopment, led by Gensler, will provide 1,250 new homes, including 313 affordable units, and will retain significant retail space. Situated in a highly accessible area with multiple subway lines, the project aligns with city officials' goals for sustainable development and will start construction in 2025, with completion planned by 2027.
The conversion project at 5 Times Square is set to transform the largely vacant office space into 1,250 new residential units, addressing housing needs in Manhattan.
Gensler's design will repurpose nearly one million square feet of office space while retaining over 37,000 square feet of existing retail, promoting a mixed-use environment.
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