After SoftBank acquired Fortress Investment Group, FIG has been investing in large-scale real estate projects that are getting a lot of attention. Their project is based in Times Square known as TSX Broadway is the biggest real estate project that they are working on in the United States and it is promising some big things. While Times Square is already a popular destination for both tourists and locals of New York City, Fortress Investment Group wants to make TSX Broadway a destination itself instead of just a side trip while you are already at Times Square. Some of the features that have been announced for the location include a shopping center, hotel, and theatre. There are some big plans for the $2.5 billion project and many people are looking forward so see what it offers with its estimated completion in the United States.
Read more on Crunchbase
TSX Broadway will be featuring nine stories of retail space and many are surprised that Fortress Investment Group plans to fill it all with just one tenant. During a time where online shopping has driven many retailers out of the area, they are planning on making it entertaining and attractive enough to keep it going strong despite the challenges in the city. The address of this promising project is 1568 Broadway and is expected to provide an experience for visitors that goes well beyond a simple shopping trip. Popular retailers around the United States like Macy’s and Ikea have already started participating in this trend that has helped to lure customers into these brick and mortar locations.
With plans for a giant LED billboard that will stretch up almost the entire height of the 550-foot tall building, the project from Fortress Investment Group is certain to attract the attention of visitors to Times Square. They are working to cultivate a unique experience that just can’t be replicated through online shopping. The upfront costs for a project of this size are generally very high which comes with a fair degree of risk. This is a risk that Fortress Investment Group is willing to take as they are confident in the potential of their investment.
Visit fortress.com for more information about Fortress Investment Group.