MTA Taps Columbus Development for 27,000-SF Retail Concourse at 59th Street-Columbus Circle Station
A 27,000-square-foot retail collection with up to 30 vendors is headed to the 59th Street-Columbus Circle subway station. The Metropolitan Transportation Authority announced today that Columbus Development LLC will build and manage the complex, Shop//Stop. The public-private project could be completed by early 2015.
The developer will invest $6.5 million in capital improvements to the concourse, through which more than 21 million commuters pass each year. Retailers will range from food and beverage shops to apparel and appliance stores.
“This is an exciting project that stands as a model for a new type of public-private retail development and brings private investment into the subway to create new amenities and services for riders,” Jeffrey Rosen, director of real estate with the MTA, said in a prepared statement.
The main developer and Columbus Development principal Susan Fine has previously worked on high-profile projects including the World Financial Center and the shopping and dining concourses at Grand Central Terminal, the latter of which should serve as a blueprint for Shop//Stop.
“The genius of the Grand Central Terminal redevelopment was the combination of best-in-class local and national retailers,” Ms. Fine said in a prepared statement. “We will transform the environment at the Columbus Circle station into an energetic retail destination that expands the experience for subway riders and area residents.”