Macy’s Advances Plan for Tower Above Herald Square Store
On May 10, Macy’s advanced its plan to build a giant office tower atop its NYC Herald Square flagship store by announcing it would spend US$235 million to upgrade transit infrastructure at the site and create other public amenities, according to the New York Post. The tower plan was originally announced in February 2020 but put on the backburner due to the pandemic. The tower needs City Hall’s green light for a zoning change for its size and height — 1.5 million ft2 of office space and 750 to 900 ft tall, according to plans shown earlier. The tower would generate US$269 million annually in new tax revenue, support 16,290 jobs and spark US$4.29 billion in annual economic output, according to the company. The public benefits package would transform Herald Square and Broadway plaza into a car-free pedestrian zone, ease pedestrian access at Broadway and 34th Street, create new entrances to the Herald Square subway station and add a new gateway entrance to the station at Greeley Square. Macy’s didn’t say how soon the tower plan would begin its Uniform Land Use Review Procedure, nor did it name a development partner. The store will remain open during construction.