Developer unveils Grand Central upgrade proposal

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NEW YORK (AP) - The developer of a proposed 65-story building near Grand Central Terminal has offered to spend over $200 million on upgrades to ease congestion at the busy transit hub.

The Wall Street Journal says SL Green Realty Corp. would undertake the work in exchange for city approval to construct the tower across the street from the terminal.

The upgrades would include three new staircases, a new entrance on 42nd Street to the Times Square shuttle platform and knocking out a wall to create a larger mezzanine near the Lexington Avenue line.

SL Green says the upgrades also would result in an extra Lexington Avenue subway train running through the station during peak hours.

It hopes to get approval for the project in April from the City Planning Commission and City Council.