Plans to build on top of Grand Central Terminal The newly formed Penn Central began to look into updating the uses of the Grand Central Terminal to increase revenue and save the company from financial straits. In 1968, the New York Central Railroad merged with the Pennsylvania Railroad to create the Penn Central Railroad company. The Pennsylvania Railroad found itself in a similar position after the offices that were built following the demolition of Pennsylvania Station were no longer bringing the company sufficient income. New York Central Railroad merger with Pennsylvania Railroad ĭespite increased office space, the New York Central Railroad found itself facing bankruptcy in 1967 because of continued decline in railroad use. The Pan Am Building was completed in 1963 and bought Grand Central Terminal more time away from proposed reconstructions. Wolfson developed the project in the early 1960s with the assistance of the architects Emery Roth and Sons, Walter Gropius and Pietro Belluschi.
Wolfson created proposals to replace Grand Central Terminal's six-story office building just north of the Terminal. None of the early designs ever made it past the sketch phase and, for the time being, all plans to replace Grand Central Terminal were abandoned. Pei included an ambitious 80-story, 4,800,000-square-foot (450,000 m 2) tower that would be over 500 feet (150 m) taller than the Empire State Building. Early designs by William Zeckendorf and I.
In 1954, the New York Central Railroad began to look at proposed plans to replace Grand Central Terminal. Early proposals to replace Grand Central Terminal That put many of the railroad companies out of business and left others to find new ways to increase revenue. While this period saw nearly half of Americans using the railroad systems, by the late 1940s, there was once again a steep decline in railroad use. World War II revitalized use of the railroad systems in the early 1940s and brought the industry back to prior success. Use of railroad systems saw its peak in the 1920s and began to falter in the mid-to-late 1930s. This law is enforced by the New York City Landmarks Preservation Commission. The Landmarks Law's purpose is to protect structures that are significant to the city and still retain their ability to be properly used. This law was passed after New York citizens grew concerned over the loss of culturally significant structures such as Pennsylvania Station, demolished in 1963. The New York City Landmarks Law was signed into effect by Mayor Robert F. Events leading up to the case New York City Landmarks Law 104 (1978), was a landmark United States Supreme Court decision on compensation for regulatory takings. īrennan, joined by Stewart, White, Marshall, Blackmun, Powell Whether a regulatory action that diminishes the value of a claimant's property constitutes a "taking" of that property depends on several factors, including the economic impact of the regulation on the claimant, particularly the extent to which the regulation has interfered with distinct investment-backed expectations, as well as the character of the governmental action.Ĭhief Justice Warren E. LEXIS 39 11 ERC ( BNA) 1801 8Īppeal from the Court of Appeals of New York
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