Posted Feb 22, 2019, 1:34 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,972
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https://www.forbes.com/sites/geoffwh.../#754213d77615
Grand Hyatt New York To Be Torn Down
Geoff Whitmore
February 21, 2019
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The Grand Hyatt was first built in 1919 as the Commodore Hotel. Constructed by the Bowman-Biltmore Hotels group as part of a complex of hotels and offices connected to Grand Central Terminal, the Commodore Hotel was meant to serve as a luxury hotel and received its name after the founder of the New York Central Railroad (NYCRR), “Commodore” Cornelius Vanderbilt. Today, visitors can see and pay tribute to the New York City railroad tycoon and the hotel’s fascinating origins.
Back then, the Commodore only had 2,000 rooms, one of which Albert Einstein stayed in for a period of three weeks in 1921. The success of the hotel resulted in a $3.4 million dollar refurbishment in the 1960s. The Commodore proved to be ahead of the hotel game, even becoming New York City’s first hotel to show in-room movies.
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However, the next decade brought financial troubles. No one knew if the hotel would close its doors permanently or sell. The answer became clear when newcomer Donald Trump struck a deal to purchase the Commodore Hotel.
On September 25, 1980, the hotel opened its pristine new doors as the Grand Hyatt New York. At first, New Yorkers hated the reflective glass façade, noting its ugliness and offensiveness to the area’s “character.”
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Despite a massive renovation in 2011, the plan to demolish the hotel is moving forward. The Grand Hyatt New York will stay open for guests until 2020.
In 2020, expect mass construction as a new 2,000,000 square-foot tower is erected. The new building (which will include a smaller hotel, office space and retail space) is being touted as a much-needed change in infrastructure to help boost the skyline’s image. However, for some, this is yet another crumbling stone in New York City’s interwoven history.
Made possible by rezoning laws, the new development will reach skyscraper levels. Other developments in the works as part of the rezoning plan include J.P. Morgan's new headquarters at 270 Park Avenue and Macklowe Properties' "Tower Fifth." In today’s fast-moving world, change is inevitable and is reaching new limits.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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