Reports say that SL Green Realty plans to invest around $210 million in extensive renovations and improvements Grand Central Station. According to Crain’s New York Business, in order to build the 65-story One Vanderbilt tower just west of Grand Central Terminal, SL Green Realty reached a deal with the de Blasio administration and the Metropolitan Transportation Authority to redevelop the transit hub and the surrounding area in exchange for permission to build the 1.6 million-square-foot structure.
The renovation project—which must reach completion before tenants start moving into the office building—was designed by Kohn Pedersen Fox Associates and includes three new staircases that will be added to the subway platforms, two new street-level entrances, an upgraded mezzanine area under the Grand Hyatt Hotel, and a 4,000-square-foot waiting area for commuters who use the Long Island Rail Road (LIRR) or Metro-North.
Additionally, the terminal will be extended to the west, making room for additional riders, in an effort to serve the station at peak hours, according to Crain’s.
