Macy’s flagship to undergo $400M renovation

TRD New York /
Nov.November 01, 2011 01:09 PM

The Macy’s in Herald Square is getting a four-year, $400 million renovation, the company announced this morning.

The renovation will begin in the early spring and continue through the fall of 2015, and all the while, the store will remain open. The project includes adding 100,000 square feet of shopping space — bringing the total selling footprint to 1.2 million square feet — by re-purposing stock and office rooms and extending the mezzanine. The entire structure at 154 West 34th Street is about 2.2 million square feet.

Other notable features of the renovation include the creation of the largest women’s shoe department in the world, a new restaurant on the sixth floor and a pub on the lower level that will remain open beyond store hours. The project also calls for the restoration of the store’s exterior, its “great hall,” and all but one of the location’s 43 wooden escalators.

Herald Square “is our company’s most productive store, and experience shows that improvements in this location consistently result in higher customer traffic and sales volume,” said Macy’s Chairman, President and CEO Terry Lundgren in a statement. “Our upcoming top-to-bottom remodel represents an investment in the future growth of our business as New York City continues to evolve as a world capital and shopping destination.”

The project will create about 1,600 construction-related jobs, and by the end of 2015 Macy’s will add about 800 new positions to the existing 4.600-person workforce. — Adam Fusfeld


Related Articles

arrow_forward_ios
J.C. Penney CEO Jill Soltau and Aurelius Capital Management CEO Dirk Markus (Getty; Wikipedia Commons)

J.C. Penney creditors want slow down “bad faith” sale

J.C. Penney creditors want slow down “bad faith” sale
518 Broadway (Google Maps)

Four years vacant: Landlord offers dire outlook for Soho building

Four years vacant: Landlord offers dire outlook for Soho building
Herald Center at 1293 Broadway (Google Maps; iStock)

JEMB Realty claims virus is “pollutant” in Midtown insurance battle

JEMB Realty claims virus is “pollutant” in Midtown insurance battle
Renderings of Target at Cross County Center in Yonkers and Target CEO Brian Cornell (Photos via Marx Realty; Getty)

Target to open in Yonkers

Target to open in Yonkers
Bed Bath & Beyond at 620 6th Avenue and CEO Mark Tritton (Google Maps; Getty; iStock)

Bed Bath & Beyond will renovate, not close, Chelsea store

Bed Bath & Beyond will renovate, not close, Chelsea store
(Getty)

Manhattan retail asking rents fall to nine-year low

Manhattan retail asking rents fall to nine-year low
Unibail-Rodamco-Westfield CEO Christophe Cuvillier and Express CEO Timothy Baxter (Getty)

Unibail-Rodamco sues Express over $30M in missed rent

Unibail-Rodamco sues Express over $30M in missed rent
Bed Bath & Beyond CEO Mark Tritton and 620 6th Avenue (Getty, Google Maps)

Bed Bath & Beyond closing Chelsea store for good

Bed Bath & Beyond closing Chelsea store for good
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...