Macy's announced its new plan to revitalize its iconic storefront located in New York City's Herald Square and the project will include a $235 million private investment in the store's surrounding areas.
The investment will enhance the area surrounding the flagship store including Herald Square infrastructure, while improving transit access and existing connections. Macy's estimated that the new revitalization plan will provide support for 16,290 jobs and create $269 million for city taxes. The company also estimates that the project will result in an additional $4 billion of economic spending.
Macy's will also be building a new tower above the flagship location that the company will use as office space. Herald Square is scheduled to be open during construction.
Image Credit: Macy's