A trio of developers has unveiled plans for a $2.5B development in the heart of Times Square in what they are describing as the next frontier of retail. The project at 1568 Broadway, dubbed TSX Broadway, will include a new 550K SF, 46-story building that will be designed as a "full-building promotional platform ... marketed as offering a single brand with access to the retail, advertising and experiential space," according to the announcement from the development team, which consists of L&L Holding Co., Maefield Development and Fortress Investment Group. Brands such as Amazon, Facebook, YouTube, Samsung, Chinese e-commerce company Alibaba, Disney and Walmart have been said to be interested in the site, Crain's New York Business reports. As part of the revamp, the 1,700-seat Palace Theatre, a landmark that sits on the site, will be lifted 30 feet and a new tower will be built around it, replacing the existing DoubleTree Guest Suites Times Square.