Property experts in New York City are questioning whether demand for new office space will keep up with supply as plans progress for a new 10-building development in Midtown Manhattan.

In July, economic development board Empire State Development voted to move forward with proposals to upgrade Penn Station and push ahead with a strategy that will deliver 10 new blocks in the vicinity over the coming two decades.

One of the eight sites earmarked for redevelopment currently contains the disused Hotel Pennsylvania, which is owned by Vornado Realty Trust. Foster & Partners has worked with Vornado on proposals for a tower on the site.

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