Macy’s Inc, May 10, 2021 — Macy’s, Inc. today announced its vision for renewing its commitment to its flagship Herald Square store, including $235 million of private investment in the surrounding neighborhood. Macy’s plan would upgrade Herald Square’s transit infrastructure and public realm into a modern, pedestrian-friendly urban space with upgraded subway access, improved transit connections and ADA-accessible elevators. To achieve these upgrades, Macy’s will leverage its underlying Herald Square real estate to build a commercial office tower above its iconic flagship store.
“New York is the retail capital of the world and Macy’s is a leader in our industry,” said Melissa O’Connor, President and Chief Executive Officer of the Retail Council of New York State. “Today’s announcement is a resounding vote of confidence for Manhattan and the entire state, and a strong indication that New York’s retailers and consumers will drive this economic recovery.”
Read the full article here.