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New York

Related to restart 42nd Street construction

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Related Companies is set to restart construction on its 1.2 million-square-foot mixed-use development at 440 West 42nd Street between 10th and Dyer avenues. The 59-story tower will contain a hotel, rental apartments and condo units. The project has gone through several iterations since Related first made way for the development by demolishing the Houseman and Fairbank theaters in 2005. Stephen Ross, CEO of Related Companies, had originally planned for the development to include a $150 million 1,800-seat Frank Gehry-designed theater for the Cirque du Soleil troupe to perform. But the city’s rejection of the zoning change nixed that plan. Although the specific new construction start date is unclear, Related said it plans to start soon.

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Related CompaniesStephen Ross