Vornardo Realty Trust has unveiled new plans for its long-awaited redevelopment of 1 and 2 Penn Plaza. Commercial Observer first reported on these new plans, which were announced during a company earnings call on Tuesday. The announcement of the revamp is accompanied by several new renderings of the overall project, which notably leave out the Bjarke Ingels glass skirt-like design we had seen in previous renderings.
The redeveloped 2 Penn Plaza will still get a new glass curtain wall however. Other aspects of the plan include an addition at the base that will stand 45 feet tall and stretch out 70 feet over the street, according to the Real Deal, which also reported on the revamp. In all, the revamp will create 145,000 additional square feet of office space. It’s expected to begin construction in 2020, and wrap up a couple of years after that.
Tenants up to floor 10 at 2 Penn Plaza are already being moved to 1 Penn Plaza for the renovation. The latter will also undergo a $200 million revamp which will see the creation of a new lobby, new tenant amenity spaces, and co-working and conference facilities. Work on that is set to get underway by the end of the year.
With the work on 1 and 2 Penn Plaza, Vornado wants to create a 4.4 million-square-foot office complex that will create a new, three-block-long public plaza.