42nd Street Redevelopment
New York, New York
42nd Street Redevelopment Corp.
Concerned for the preservation of a two-block area containing two irreplaceable theatre buildings: the New Amsterdam and the Victory, the 42nd Street Redevelopment Corporation retained l-ds as a part of a team to recommend a revitalization plan. The site is surrounded by one of New York’s most intense activity centers and within walking distance of Times Square and Broadway.
The plan suggested that the area be dedicated to the awareness of the performing arts. Theaters were restored for live entertainment, exhibition and educational display areas. These activities were supported by new retail and restaurant facilities. l-ds presented a financial pro forma on the properties after conducting studies to evaluate the area’s market demands and the economic effects of construction and operations. The site improvements were designed to stimulate further investments and visitor spending, thereby providing direct and indirect benefits to New York City.