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City Council Approves One Vanderbilt

NEW YORK CITY—The office tower project, near Grand Central Terminal, includes a large investment in area infrastructure by developer SL Green Realty Corp.

By Rayna Katz | Updated on May 27, 2015

NEW YORK CITY—By a unanimous vote, the New York City Council has approved plans for SL Green Realty Corp.’s One Vanderbilt office tower. Construction of the 63-story building—located directly west of Grand Central Terminal—is expected to start immediately, beginning with the demolition of the site.

“Featuring world-class architecture, pioneering sustainability standards, and modern flexible floor-plates that global companies demand, One Vanderbilt will usher in an exciting new era for East Midtown,” declares Marc Holliday, CEO of SL Green. “One Vanderbilt will deliver critically-needed, state-of-the-art Class A office space and dramatically upgrade Grand Central’s aging, over-burdened transit infrastructure.  As the largest owner of commercial property in New York City, we are proud to set a new standard for unsubsidized commercial development and create a blueprint for a truly 21st-century Midtown Manhattan.”

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