NEW YORK | Macy's Tower | FLOORS | 870 FT

[NYguy]

Originally Posted by rgarri4

From my 3D model of New York City:

This will be nice. A bit bulky, but it will be overshadowed by the Empire Station towers.

[mrnyc]

its actually a great look for its setting.

and its a very good idea.

i wonder if they can keep macys open while they build?

[NYguy]

Originally Posted by mrnyc

i wonder if they can keep macys open while they build?

Most likely. They kept Penn Station open while they built that toilet above it.




https://finance.yahoo.com/news/macy-...213132979.html

Macy’s Shows Progress and Confidence Navigating COVID-19 Amid Q2 Losses


David Moin
September 2, 2020

At Macy’s Inc., the numbers haven’t turned around yet, but perceptions are starting to.

Despite continued heavy losses and headwinds, Macy’s, according to its chairman and chief executive Jeff Gennette, is poised to grab hundreds of millions of dollars in market share from stores being closed by competitors, increase cost savings, commence holiday selling earlier this year, and test small store prototypes and unveil new private brands.

Some analysts and retail experts have lately expressed greater confidence in the company compared to seasons past, citing the store’s raising over $4 billion in debt this year to manage through the pandemic and stay liquid, and the potential to capture sales from J.C. Penney, Lord & Taylor and other stores closing in malls.

In addition, Macy’s, which generated $24.6 billion in sales last year, has been dramatically streamlining its headcount and store fleet, and is pivoting assortments to play up casual fashion and home-related merchandise while downplaying some categories that have lost appeal during the health crisis.

• Bloomingdale’s and Macy’s saw a surprising upsurge in luxury sales.

• Bloomingdale’s and Macy’s will next year test small store formats, requiring enormous editing and reimagining the selection.

• The redevelopment of the Herald Square flagship with an office tower has been put on hold due to the weakened state of real estate resulting from the pandemic, but not scrapped for good.

• Macy’s Thanksgiving Day parade is on but will be staged differently:”2020 needs these moments of joy,” Gennette said.

[The North One]

Wow, so a major office building has officially been put on hold in New York because of the pandemic.

[NYguy]

Originally Posted by The North One

Wow, so a major office building has officially been put on hold in New York because of the pandemic.

Yeah, and this hasn’t even gone through an approvals process yet. Truthfully, that’s what’s been put on hold. But it didn’t need to be.

[NYguy]

SEPTEMBER 7, 2020

[Crawford]

Is the existing highrise portion of Macys (the part facing 7th Ave.) expected to be integrated into the new tower, or will it be separate? I wonder if they'll create a unified complex, or just plop the tower on the Broadway end?

[NYguy]

Originally Posted by Crawford

Is the existing highrise portion of Macys (the part facing 7th Ave.) expected to be integrated into the new tower, or will it be separate? I wonder if they'll create a unified complex, or just plop the tower on the Broadway end?

The tower will be sort of centered, but I don't think it will be integrated with the western end, only because of the sky lobby, and likely higher ceiling heights in the new tower.

[NYguy]

Some Macy's testimony on last years draft scope for the Empire Station Complex regarding their new tower...

[JMKeynes]

[NYguy]

Basically what Macys was saying in that letter is that they should be included in the state’s plan (so they won’t have to go through their own, separate process). I can see how they would say that, because they’re just across the street. But the states plan is really to confine improvements to the areas within the zone. Both go hand in hand, but I guess the state wanted to limit the scope of its project. The Macy’s tower is within the range of the study, and will be included in that anyway.

[NYguy]

https://www.bloombergquint.com/amp/b...-york-flagship

Macy’s Floats $235 Million Investment to Sweeten NYC Tower Plan


Kim Bhasin Jordyn Holman Natalie Wong
May 11 2021

Macy’s Inc. is proposing a $235 million investment in the area surrounding its Herald Square headquarters in Manhattan as it works to gain approvals from city officials to build an office tower atop its flagship store.

The development project would upgrade the Herald Square plaza into a more pedestrian-friendly space and create new entrances for the transit hub underground, including elevator access. Macy’s said its renewal plans, including the tower, are expected to generate $269 million in annual tax revenue for the city and $4.29 billion in economic output each year. The store would stay open throughout the process.

” We’re ready to put this in front of the community,” Chief Executive Officer Jeff Gennette said in an interview. “It was something that we explored really over the last four years.”

Macy’s has been in talks with the city regarding plans to separately build a tower at its New York flagship, the largest department store in the U.S. The store has been located in Herald Square for more than 100 years and occupies nearly a full city block.

Gennette signaled to investors in 2019 that Macy’s was looking for ways to “unlock additional real estate value” at the location. Preliminary renderings show a 700 to 950-foot skyscraper with a sky lobby and 1.5 million square feet of office space.

Just weeks after presenting the plan to investors in February 2020, Macy’s temporarily closed all its locations, including Herald Square, due to the Covid-19 pandemic. The retailer has been dealing with the economic fallout ever since, furloughing workers and cutting corporate staff. Net sales for the fiscal year ended Jan. 30 fell almost 30% compared with the prior year. But sales have started to recover, with the company posting a better-than-expected holiday quarter.

The Macy’s proposal is now set to go through the city’s Uniform Land Use Review Procedure, a public review process that involves the city council, local leaders and the community board.

“This is the right time for us to do it,” said Gennette.

https://assets-bwbx-io.cdn.ampprojec...Y/v0/-1x-1.jpg



https://rew-online.com/macys-adds-23...re-tower-plan/

[JMKeynes]

If Macy’s seeks to build a spec tower that will provide a lot of jobs, it would be crazy for the city not to rubber-stamp it.

[streetscaper]

They need to make all of Broadway south of 59th just like that! Our own version of Las Ramblas in Barcelona

[NYguy]

https://www.macysrenewingheraldsq.com/#Vision

New York City is in Macy’s DNA. We believe in New York because our 162-year history here reflects the resilience of this city we call home.

The red star at Macy’s Herald Square store has been a familiar beacon for six generations of New Yorkers and millions of visitors from around the world. Macy’s plan to invest in our store and neighborhood celebrates our history in New York and embraces the future we share. We are excited to make this commitment to New York City’s economic recovery from an unprecedented global pandemic and continue to be a part of the city’s success story.

Our Vision for Herald Square

Since 1902, Macy’s has expanded its presence in Herald Square throughout the years while continuing to be a part of so many New Yorkers’ lives—whether through creating treasured memories through celebrated parades and fireworks, or the store’s superior daily customer service experience.

As the city has adapted and improved over the years, so has Macy’s. The original building that opened more than 100 years ago quickly grew into 1 million square feet of retail space with its 1924 expansion from Broadway to Seventh Avenue along 34th Street. The store grew bigger and even taller in 1931 when it annexed the Seventh Avenue building.

By investing in our Herald Square flagship location and working closely with the community to improve the neighborhood around it, Macy’s is laying the groundwork for a space that will continue to be celebrated as an essential icon in New York City’s future as well as its past.

An Investment In Our Shared Future

Macy’s, Inc. has introduced an ambitious redevelopment plan that will bring deep investment and significant upgrades to Herald Square—including approximately $235 million in transit and public realm improvements.

..... The proposal is based on a rezoning that would allow for an additional structure that continues Macy’s tradition of growth and adaptation. The new building on top of the Herald Square location would be an appropriate and fitting addition to Midtown Manhattan that would help bring new economic energy to the entire area. This plan leverages the company’s real estate to secure its future as a New York City institution while also allowing its workforce to continue contributing to the city’s recovery and success.

[NYguy]

https://www.forbes.com/sites/walterl...h=4648ef8d5941

Macy’s Bold Move In Herald Square





Walter Loeb
May 12, 2021

Macy’s at Herald Square is an exciting store. Now it will be supported by enhancement of the whole shopping area when it adds a 850- to 900-foot-tall commercial tower to its building. There will also be a $235 Million private investment in the surrounding area to enhance shopping in the Herald Square store and in adjacent shopping areas. There will be dedicated areas for customers to rest in the pedestrian car-free space.

It will transform Herald Square and Broadway Plaza into a car-free pedestrian urban space with substantial improvements to public transportation and the New York City subway station.

Macy’s management points out that the renovation of its Brooklyn Store (Formerly A&S) was a “fantastic boost” for Brooklyn. The project added to the vibrancy of Downtown Brooklyn and supported economic growth of the Fulton Mall. The new development is undoubtedly going to be a boost for shopping at Herald Square. Macy’s announcement shows confidence in the future of urban shopping after the pandemic caused by COVID-19 which had costumers worry about their safety when shopping.

Jeff Gennette, Chairman and Chief Executive Officer of Macy’s Inc. said “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.” The leadership that Macy’s is showing here is exciting for the future of retailing.

While the exciting action of Macy’s at Herald Square will revitalize New York City, it is important to note that many stores in far flung locations like Texas and California also need renewal and renovation. I know that some 50 stores will be renovated this year and that the Herald Square renovation will signal a campaign to improve many more stores in the next few years. Macy’s is vital to every of its 512 Macy’s locations.

[Busy Bee]

Much more interesting than a tower shaft grafted onto the roof of Macy's would be a stepped wedding cake of clear glass that enveloped the entire perimeter but maybe half as tall. This current proposal reminds me of those little matchbox cars from the 90s where the front was like a schoolbus the middle a limousine or something and the back a garbage truck... Am I the only one?

[tdawg]

Great news. The new plaza is my favorite part.

[JMKeynes]

Since that stretch is already a nice pedestrian plaza, it seems like the proposal only adds a nicer subway entrance.


https://34thstreet.org/attractions/broadway-boulevard

[BK1985]

Originally Posted by Busy Bee

Much more interesting than a tower shaft grafted onto the roof of Macy's would be a stepped wedding cake of clear glass that enveloped the entire perimeter but maybe half as tall. This current proposal reminds me of those little matchbox cars from the 90s where the front was like a schoolbus the middle a limousine or something and the back a garbage truck... Am I the only one?

I think alot of the building would need to be gutted to facilitate what you are envisioning. I like the current design as is.