"One Vanderbilt will not only emerge as an elegant, tapered new icon on the New York skyline, but will also serve as a leading example of a global trend of connecting train stations to tall towers," said James von Klemperer, FAIA, RIBA, President of Kohn Pedersen Fox Associates. "This building will change its neighborhood for the better. It will provide a new gateway to the city made possible only through the unusually harmonious partnership between architect, developer, and the City of New York."Through SL Green's unprecedented $220 million public infrastructure investment, One Vanderbilt will transform the commuting experience for hundreds of thousands of travelers commuting through Grand Central each day. Specifically, this package of infrastructure upgrades will create a new jewel box transit hall in the base of One Vanderbilt, a new 14,000-square-foot pedestrian plaza on Vanderbilt Avenue, and enhanced access into and out of the Grand Central complex for riders of the city subway system, Metro-North and future Long Island Railroad East Side Access. SL Green has secured TD Bank as an anchor tenant, set to occupy approximately 200,000 square feet of office and retail space in One Vanderbilt, including a flagship store at the corner of 42nd Street and Madison Avenue. Hines is SL Green's development manager and AECOM's Tishman Construction is the construction manager. Construction is expected to be complete in 2020. "The One Vanderbilt building is a historic addition to the New York City skyline and we're proud to participate in the financing of this transformational project," said Gregg Gerken, Head of Commercial Real Estate for TD Bank. "We also look forward to becoming a tenant. This building is designed to achieve the highest possible LEED requirements, which aligns with our commitment to being an environmental leader - and that's something we know is important to our employees and customers." "It is a privilege to be a partner with SL Green in this transformational development," said Tommy Craig, Senior Managing Director of Hines. "The property's direct connection to Grand Central Terminal, its remarkable open space at grade, aspirational architecture and best-in-class technology, will have a catalytic effect on midtown Manhattan for decades to come." "As the leading builder of New York's greatest iconic towers, we're excited to be breaking ground on such a distinctive and visually stunning building, which will be the cornerstone of a revitalized East Midtown," said Jay Badame, President of AECOM Tishman. "By demonstrating a tremendous commitment to an area of New York that needs new building, SL Green is transforming a neighborhood, and that's something we are always proud to be a part of." "Today's groundbreaking is an important step forward in the modernization and future of Midtown East," said John H. Banks III, President of the Real Estate Board of New York. "We congratulate SL Green on this milestone, One Vanderbilt will now become a catalyst for the creation of good middle class jobs and important tax revenue. This project will serve the needs of Midtown East's aging office supply and set new standards in sustainability and design, further ensuring that New York City remains the center of world commerce, culture, media, and finance." The MTA worked closely with SL Green as it developed plans for this iconic new building next to Grand Central securing private sector investment in transit infrastructure that will make commutes better for hundreds of thousands of our customers every day," MTA Chairman and CEO Thomas F. Prendergast said. "The MTA will continue to support innovative proposals that link development with transit investment, and we hope that One Vanderbilt is the first of many to come."
Learn more about One Vanderbilt at www.onevanderbilt.com and follow its progress at @one_vanderbilt on Instagram and Twitter. High-resolution images of One Vanderbilt can be downloaded at http://bit.ly/2dvv60k.About SL Green Realty Corp. SL Green Realty Corp., an S&P 500 company and New York City's largest commercial landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2016, the Company held interests in 119 Manhattan buildings totaling 44.7 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.7 million square feet of buildings. In addition, the Company held ownership interests in 31 suburban buildings totaling 4.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. To be added to the Company's distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at (212) 594-2700. SLG-GEN