Beacon News

Beacon was retained by a leading surety company to provide construction consulting services related to a high-profile project in New York City. TSX Broadway is a 46-story mixed-use hotel tower being built at 1568 Broadway in Times Square (see rendering). Located in the heart of Times Square, the project included the installation of massive computerized LED Screens / Electronic Billboards which wrap around the lower section of the building, as well as up its side and near the top of the structure. The LED signage system is reportedly the largest and most technologically advanced in all of Times Square, a neighborhood which is world famous for its many gigantic high-tech billboards and signs.

Following the default of a key LED Signage subcontractor, Beacon helped a leading Surety company to evaluate possible completion options for the massive LED signage project. Beacon advised the Surety related to the project's cost to complete, re-let options, possible alternative signage subcontractors, and material storage. The project was an extremely challenging one because so few companies in the region hold the necessary "Master Sign Hangers License" needed to complete the work.

More about TSX Broadway

Developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall, 550,000-square-foot tower will include a 669-room hotel, retail space, restaurants, and an outdoor performance space overlooking Times Square. The building also houses the historic Palace Theatre, which was raised 30+ feet from its original location for integration into the new building. The overall project is expected to cost more than $2 billion, was topped out in early 2022, and is reportedly scheduled for completion in 2023.

One of the world's busiest pedestrian areas, Times Square is also the center of New York City's Broadway Theater District. The neighborhood is one of the world's most visited tourist attractions, with an estimated 50 million visitors every year. More than 300,000 people pass through Times Square every day, many of them tourists. On the busiest days, more than 460,000 pedestrians walk through Times Square.

The Lifting of The Historic Palace Theater

An amazing aspect of the TSX Broadway project was the raising of the historic Palace Theater. It was truly an amazing feet of engineering to lift the 14-million pound theater more than 30 feet. A highly specialized team of architects, structural engineers, and other experts collaborated on the project. The project entailed disconnecting the theater from its foundation and hoisting it up on a platform. A hybrid system consisting of hydraulic jacks and structural steel shoring was used to raise up the theater approximately 7 inches per day. It required 34 hydraulic jacks and four months to complete the lift. After it was raised, the theater was secured in place with fresh concrete and super-columns.

The lifting of the theater was particularly impressive considering the theater's age and its location in one of the busiest entertainment districts in the world. The Palace Theatre was originally built in 1913 and was funded by Martin Beck, a vaudeville entrepreneur. For many years it was one of the most famous vaudeville theaters in the world. Many famous actors, musicians, and comedians performed live at the Palace Theater, such as Sarah Bernhardt, Will Rogers, The Marx Brothers, Jack Benny, Bob Hope, Judy Garland, James Cagney, Danny Kaye, Burns & Allen, Jerry Lewis, Liberace, Alan King, Diana Ross, and many others. The theater was converted into a Broadway Theater in the 1960s. Since its original construction, the theater has been housed in three different buildings and also served as a movie theater for many years prior to its conversion to a Broadway venue.