The New York Times recently unveiled plans for a new headquarters building near Times Square. The site is located on the east side of Eighth Ave. between 40th and 41st Streets. Governor Pataki and architect Renzo Piano were present at the unveiling. The structure is slated to begin construction in 2003, and completed in Spring 2006. It will be a 52-story building with an estimated 1.54 million gross square feet of office space. The New York Times and Forest City Ratner Cos. (FCRC) are developing the building, after establishing a joint venture with ING Real Estate as their financial partner. Renzo Piano, winner of the 1998 Pritzker Award, is in charge of the design of the building; he will be working with the award winning Fox & Fowle Architects. The ground floor of the building will consist of retail space, a garden, an auditorium, and a shared lobby. Floors 2 through 28, approximately 800,000 gross square feet, will be owned and occupied by the New York Times. The initial plan is for the 2nd through 7th floors to be occupied by the newsroom. Floors 29 through 50, approximately 600,000 gross square feet, will be leased out by Insignia/ESG. The remaining floors will be used for mechanical space and a rooftop conference facility.