Posted May 15, 2019, 8:04 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,899
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https://www.bloomberg.com/amp/news/a...kyline-is-a-go
Macy's CEO Confirms Plan to Transform Midtown NYC's Skyline
By Jordyn Holman
May 15, 2019
Quote:
Macy’s Inc.’s top executive confirmed the company is looking to build a skyscraper on top of its flagship store in Manhattan’s Herald Square to unlock real estate value.
“We hope to walk out of 2019 with a plan that we’re then going to bid out,” Chief Executive Officer Jeff Gennette said in an interview Wednesday. Still, the retailer says there are lots of steps ahead before it can put the idea for a commercial office tower to work.
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Quote:
Bloomberg News reported in April that the company had floated plans for a 1.2 million-square-foot (111,500-square-meter) tower that would be used by other tenants. A representative for Macy’s had no comment at the time.
Gennette said the retailer has been working on the skyscraper plan for the last year and a half. Macy’s has met with city, government and community leaders over the past several months, a spokeswoman said.
“We’re still early in this process and there are a number of hurdles we need to cross before we can share more concrete details,” she said in an email.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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