Excavation and foundation work on the building will be complete by the third quarter of 2017, which is when vertical construction will get underway. The transit upgrades and the project overall is expected to be complete by 2020.
Last week the developer had unveiled a time-lapse video showing the commercial buildings being demolished to make way for the office tower. Vertical construction on the 1,401-foot building won’t actually get underway until the second quarter of 2017.
The structure itself won’t go vertical until the second quarter of 2017, and construction on the project is expected to wrap up sometime in 2020. The development will also bring $220 million in public transit upgrades to the area.
If at first you don't succeed, try, try again. The city has issued a second proposal to rezone Midtown East that would allow for larger office buildings. The rezoning would also allow landmarks to sell their air rights across the neighborhood.
Developer SL Green announced today that it had reached a settlement over a $1.1 billion lawsuit against One Vandy’s owners and the City of New York, allowing construction the supertall skyscraper to proceed.
File this one under "duh": One Vanderbilt, SL Green's forthcoming Midtown East supertall, is going to be super pricey to build. It could have a total cost of as much as $3.14 billion, which would put it in the same ballpark as 1WTC.