The 118-year-old One Times Square building in New York City—the site of the annual New Year's Eve ball drop—is getting a major $500 million renovation by owner Jamestown. 

To latch onto metaverse-related publicity and find new ways to connect with the public, Jamestown has set out to incorporate augmented reality across its portfolio. The first effort is at One Times Square, an augmented reality project called "Concrete Jungle AR TimesSquare."

"Expected to open in the fall of 2024, the project includes a 12-floor, branded AR-VR [augmented reality-virtual reality] experience offering brands the added ability to connect with their customers in Times Square through immersive, technology-enabled activations," says a company press release. "In addition to the AR/VR experiences, the redevelopment includes a new viewing deck offering a closer look at the New Year's Eve Ball and an elevated view of Times Square, as well as an interactive museum that tells the story of the building, New Year's Eve, and its place in the history of Times Square."