Herald Square Transformed In Macy's $235M Tower, Plaza Plan

MIDTOWN MANHATTAN, NY — After more than a century in Herald Square, Macy's has unveiled a proposal to transform the area surrounding its flagship store through a new office tower, pedestrian plaza and subway station improvements.

The most striking element of the plan, which was released Monday, is the glassy tower that would be built atop Macy's recognizable 19-story department store building that dates to 1902.

Herald Square itself, meanwhile, would be rebuilt into a car-free pedestrian space by blocking traffic along several blocks of Broadway — an expansion of the more modest plaza that spans two streets.

All told, the project would cost about $235 million in private investment, according to Macy's, which did not say how it would raise the funds. Before starting construction, Macy's will need to move through the city's monthslong public review process to gain approval for the zoning changes required to build the 750-to-900-foot-tall tower.

"We are proud to make this leadership investment in New York’s recovery and are excited to welcome visitors back to Herald Square not only today, but for generations to come," said Jeff Gennette, Macy's chairman and CEO, in a statement.

The plan also calls for improvements to the 34th Street–Herald Square subway station, including new entrances closer to Penn Station and ADA-accessible elevators.

All told, the proposal signals Macy's belief in an eventual return of foot traffic to Midtown, which is still in the early stages of its revitalization after emptying out during the pandemic.

"Macy’s commitment of $235 million to upgrade the public realm reflects our vision for the area and is a bold and timely vote of confidence in the future of Herald Square, our City, and Macy’s ongoing presence here," said Dan Biederman, president of the 34th Street Partnership, in a statement.

Other major developments under review in Midtown include the state's Empire Station Complex, a controversial plan that calls for the construction of nine skyscrapers to help fund improvements to Penn Station.

Macy's will share updates about the project at macysrenewingheraldsq.com.