Historic Palace Theatre finishes 30-foot lift above Times Square

The redevelopment of a historic Times Square theater hit a major milestone this week. L&L Holding Company on Wednesday announced the 30-foot lift of the Palace Theatre is completed after seven weeks. The project is part of TSX Broadway, a 46-story $2.5 billion mixed-use development set to open next year with a performance venue, 660-key hotel, retail, and a restored theater on the third floor. Using techniques that defied traditional engineering, the theater’s lifting unlocks 100,000 square feet of retail and entertainment space.

The 14-million-pound theater was raised using a construction machine described as a “hybrid between a structural steel shoring post and a hydraulic jack.” The theater is set to undergo a $50 million renovation project which will upgrade the landmark’s interior, lobby, reception area, and backstage.

“The completion of the Palace Theatre lift marks a milestone in this innovative project that is revitalizing Times Square and emerging as a symbol of the spirit of New York City’s economic and cultural strength in one of its most iconic destinations,” David Levinson, CEO of L&L Holding Company, said.

“We are thankful to all of our partners for accomplishing this never-before-seen feat of engineering, which will preserve the legacy of this historic landmark while unlocking its full potential as a modern-day entertainment destination.”

The Palace Theatre was designed in 1913 by Kirchoff & Rose and was the country’s largest vaudeville venue until 1929. According to CBS News, the lifting project began with the detachment of the theater from its foundation. Afterward, the structure was slowly lifted by the hybrid piston device.

The lift of the theater kicked off in January and took seven weeks to complete. Plans and renderings for Palace Theater’s redevelopment were first released in August 2017, two years after the plan was approved. In September 2018, further plans and new renderings were released, which included the creation of a new 669-room luxury hotel, which will be designed by PBDW Architects, Mancini Duffy, and Perkins Eastman and have “ball drop suites” offering front-row views of the New Year’s Eve event.

TSX Broadway will also include the neighborhood’s only indoor and outdoor performance venue and largest outdoor terrace, in addition to 51,000 square feet of signage, and almost 100,000 square feet of retail and entertainment space.

“We look forward to inviting everyone to visit the Palace Theatre in its new home in the coming years. This project symbolizes the essence of Times Square, a district that sits at the intersection of our city’s history and its future,” Tom Harris, president of Times Square Alliance, said. “This remarkable engineering project will elevate the theatre’s prominence as a part of TSX Broadway, which will create new experiences for all who visit.”

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