US department-store group Macy’s is to invest $235m to upgrade the area surrounding its New York Herald Square flagship store.
The retailer’s plan would improve Herald Square’s public transportation system and transform the public area into what it calls a modern, pedestrian-friendly urban space. Macy’s will use its Herald Square real estate to build a commercial office tower above its flagship store.
The investment will see Herald Square and Broadway Plaza become a car-free space with upgraded connections to public transportation and improvements to the Herald Square Subway Station.
The Herald Square store will remain open throughout the project.