Gensler Announces Plans to Transform Times Square Office Tower into Housing in New York City
The Empire State Development (ESD) Board of Directors has approved a major office-to-residential conversion project at 5 Times Square, New York City, as announced by the New York state government. Originally built in 2002 as the headquarters for Ernst & Young, with Kohn Pedersen Fox (KPF) as the design architect, the building has been largely vacant since the corporation vacated the premises in 2022, with vacancy rates remaining around 75 percent. Gensler's proposal aims to repurpose this underutilized office space into a mixed-use complex, introducing up to 1,250 new homes, including 313 permanently affordable units.
Times Square. Image © Michael Grimm
The Empire State Development (ESD) Board of Directors has approved a major office-to-residential conversion project at 5 Times Square, New York City, as announced by the New York state government. Originally built in 2002 as the headquarters for Ernst & Young, with Kohn Pedersen Fox (KPF) as the design architect, the building has been largely vacant since the corporation vacated the premises in 2022, with vacancy rates remaining around 75 percent. Gensler's proposal aims to repurpose this underutilized office space into a mixed-use complex, introducing up to 1,250 new homes, including 313 permanently affordable units.
