The River Ring project in Brooklyn isn't the only mega development to move forward this month.
6sqft reports that last week, the City Council voted to approve the redevelopment of the Grand Hyatt Hotel at 175 Park Avenue in Midtown. Plans call for the construction of a 2.1-million-square-foot building featuring a new 500-room hotel, offices, retail, and 25,000 square feet of publicly accessible terraces.
Additionally, co-developers TF Cornerstone and RXR Realty will accompany the project with hundreds of millions of dollars in new transportation infrastructure - including improvements to Grand Central Terminal, a new subway entrance on 42nd Street, and other public realm improvements.
Other public benefits provided by the project include $5 million for local non-profit organizations and additional money to support public art in the surrounding area.
Designed by SOM, 1,575-foot-high building will stand head and shoulders above its immediate neighbors - including One Vanderbilt, the 1,401-foot-tall office tower which opened earlier this year on the opposite side of Grand Central.
Completion of 175 Park Avenue is anticipated in 2030.
- 175 Park Avenue (Urbanize NYC)