New York Construction Report staff writer
The Empire State Development (ESD) Board of Directors has approved the conversion of 5 Times Square from commercial office space into a large-scale, mixed-use residential development.
The plan will transform nearly one million square feet of underused office space into up to 1,250 residential units, including 313 permanently affordable homes for individuals and families earning up to 80 percent of the Area Median Income (AMI). The project will also retain over 37,000 square feet of retail space…