Iconic Times Square Redevelopment Tops Out Just In Time For Ball Drop

MIDTOWN, NY — The redevelopment of a historic icon of Times Square home to the New Year's Eve ball drop has officially topped out ahead of the annual celebration.

Developer Jamestown commenced the $500 million redevelopment in 2022 to transform the 119-year-old building into a 21st century visitor center, and celebrated the topping out of the project late last week.

“The future of Times Square needs to build on its strengths – from Broadway to the digital billboards to New Year’s Eve – while also adding new and varied experiences that evolve and elevate its position as a global entertainment district,” said Michael Phillips, president of Jamestown. “The redevelopment of One Times Square is a reimagination of how Times Square can be experienced and how brands can create meaningful resonance with consumers.”

In addition to the visitor's center, the redevelopment of the 26-story building at the intersection of 42nd Street, Seventh Avenue and Broadway will include a new, cantilevered viewing deck overlooking Times Square, a six-story museum experience covering the history of Times Square and the New Year's Eve celebration and a "next generation brand experience" allowing for technology-enabled brand activations.

That brand activation space will take up most of the interior, claiming 12 stories for "immersive, technology-enabled activations, including digital, virtual, and augmented reality integrations," according to a press release.

“The opening of One Times Square in 1904 solidified the neighborhoods history as the center piece of culture and entertainment and created one of the most iconic destinations in the world; linking it to one of the most global events – New Year’s Eve,” said Tom Harris, President of the Times Square Alliance. “This redevelopment will continue to challenge the world by creating a truly unique attraction providing a fresh look at an old classic and allowing the millions who have already been, to experience it anew.”

The countdown sign was recently re-installed and the numerals for the big night will soon be in place for the once-a-year celebration.

Jamestown first purchased the historic building, originally built to house the New York Times, in 1997 for $110 million.