According to Local 157, the blog "Where NYC Union Carpenters Communicate, Connect and Stay Informed!" (What, you don't subscribe to the RSS?), SJP Properties has announced that the steel structure at 11 Times Square is now rising. The 40-story office tower is the biggest speculative development in Midtown right now, with nary an anchor tenant in place (publicly, at least). The success/failure of this building in these credit-crunched times should offer a clue on whether the nearby Port Authority will build an office tower of its own. [Local 157; previously]
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