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Case Study

Keeping Grand Central on track

As one of the most beloved icons of New York City, Grand Central Terminal has been legally protected since the late 1960s, when it was recognized by the Landmarks Preservation Commission—an entity formed in response to the destruction of the original Penn Station. About a decade later, National Register of Historic Places named Grand Central a National Historic Landmark.

Although legally protected against demolition, the Terminal was not safe from deterioration and decline. In 1994, the Metropolitan Transportation Authority gained long-term control of Grand Central Terminal in the form of a 110-year lease from American Premier Underwriters, Inc., successor to the Penn Central Corporation.  This enabled the MTA to enter into an agreement with GCT Venture, Inc.—a  partnership of Jones Lang LaSalle and Williams Jackson Ewing--to implement a comprehensive revitalization plan based on the Master Plan for Grand Central Terminal.

Our success and overall performance in restoring the former glory and presence of this world-renowned terminal led to an expanded charter and on-going relationship.  Currently, we serve as the Retail Manager of the Terminal.

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