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we’ re seeing more commercial properties being converted into residential properties. We have several projects to install elevators in buildings like these, scattered around different areas of downtown New York. The federal government recognizes that there needs to be an incentive program in place for developers to build more residential spaces, and I believe we’ ll see increased activity over the next few years.
“ In terms of new construction, we have an upcoming 30-unit project to install elevators in 740 Eighth Avenue, otherwise known as The Torch, which is a supertall skyscraper under construction in Midtown Manhattan and is planned to reach 1067 feet tall once completed in 2027,” he reveals.“ With elevators running at speeds of 2000 feet per minute and an amusement ride near the top of the building overlooking Times Square, we’ re super excited to see this project progress.”
Commenting on this project win in a recent press release, Michael Staub, Partner and Executive Vice President of Operations at TEI, said:“ TEI Group will deliver world-class vertical transportation in this iconic building, which will greatly redefine the Manhattan skyline for generations to come.”
In the same press release, Mark added:“ TEI is well positioned for this project with the combined construction experience of VP John Rose and GM Mike Donohue on highrise, high-speed elevator installations. TEI has completed many projects for both Extell Development and Suffolk Construction, and we look forward to another successful project.”
System modernization
As our conversation continues, Mark turns his attention to other areas of the business.“ When it comes to the modernization of elevator systems, the new trend is towards
Congratulations to Mark Gregorio and the entire TEI team on your phenomenal success.
Let’ s light The Torch!
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