New York City Council Approves New Tower

26 August 2010 (Last Updated August 26th, 2010 18:30)

New York City Council in the US has approved plans for a new skyscraper near Penn Station. The project, called 15 Penn Plaza, is currently in the planning stage and will be built by Vornado Realty Trust, according to the Wall Street journal. The tower is expected to be a

New York City Council in the US has approved plans for a new skyscraper near Penn Station.

The project, called 15 Penn Plaza, is currently in the planning stage and will be built by Vornado Realty Trust, according to the Wall Street journal.

The tower is expected to be a 67-storey, 1,190ft tower two blocks west of the Empire State Building.

Council speaker Christine Quinn said the project would create $3.3bn in new economic output.

Vornado Realty Trust is expected to invest around $150m on improving infrastructure, including corridors connecting with Herald Square.