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NEW YORK, Jan. 11 /PRNewswire/ -- Mayor Rudolph W. Giuliani and Charles A. Gargano, Chairman, Empire State Development Corporation representing Governor Pataki, today joined Jack, Lewis and William Rudin, Thomas Glocer, President of Reuters America Inc. and Douglas Atkin, President of Instinet Corporation at a groundbreaking ceremony for 3 Times Square, the site on which the Rudin/Reuters joint venture will construct a new US headquarters for Reuters. Adding to the dynamism overtaking Times Square, The Reuters Building will provide an important link in the chain of communications companies that are transforming the "Crossroads of the World" into a media and entertainment hub.
The Reuters Building @ 3 Times Square will be the Rudins' first newly constructed commercial development of the nineties. The $360 million project will also be the first new commercial office building completed in New York City to usher in the new millennium. It is scheduled to open early in 2001.
Reuters and Instinet will consolidate 1,800 Manhattan-based staff from seven locations into 19 floors comprising 570,000 square feet. The building, designed by Fox & Fowle Architects, will also feature an electronic trading room and a television studio.
New York City Mayor Rudolph Giuliani said: "The construction of this tower for Reuters in the new Times Square will enhance New York City's position as the Media and Financial Capital of the World. I can think of no better place for Reuters' North American headquarters than in Times Square at the Crossroads of the World. With Reuters' presence on the world's most exciting street, 42nd Street will continue to generate more economic activity and excitement for the many people that work, visit and live in our City. I would like to congratulate everyone involved in this important project, and I look...