NEW YORK — After a 6-year legal battle, New York state acquired most of the Times Square development area Wednesday, and officials said demolition to clear the way for the $2.5 billion project could begin by fall.
The state Urban Development Corp. took title to about two-thirds of the 13-acre site, including the parcels at the intersection of Seventh Avenue and 42nd Street, on which four huge office towers are planned. It also includes eight of the nine theaters that are to be renovated as part of the project.
Officials called the action a decisive step toward the state`s largest public commercial urban-renewal project.
The plan calls for four skyscrapers from 32 to 57 stories and comprising 4.1 million square feet.
The buildings were redesigned to reflect the honky-tonk atmosphere of the area, with setbacks, angled roofs, reflective surfaces in blue and green glass and built-in multicolored neon signs.
http://articles.chicagotribune.com/1990-04-19/news/9002010667_1_times-square-urban-renewal-neon
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