L&L Holding Company, Maefield Development, and Fortress Investment have released renderings of TSX Broadway, a multi-billion dollar complex that will be built 30 feet above Times Square.

The new 46-story building, which will rise on the site of the Beaux Arts-style Palace Theatre on 1564 Broadway Avenue, will accommodate 555,000sq ft of space for retail and entertainment venues.

The structure will also include a 669-room hotel, a 10,000sq ft terrace and a 4,000sq ft permanent outdoor stage – the only one of its kind in Times Square.

First approved by the Landmarks Preservation Commission in 2015 and greenlit by the New York City Council in June 2018, the project will be helmed by Mancini Duffy and Platt Byard Dovell White Architects (PBDW).

Construction on the new destination will start this winter.

The project is expected to be completed in 2021.