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Brooklyn, Manhattan: Walking across New York bridges and stops along the way
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Macy s Floats $235 Million Investment to Sweeten NYC Tower Plan
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Jeff Gennette and the Macy’s Herald Square location (Getty, Google Maps)
Macy’s is pushing ahead with its plan to build an office tower above its iconic Herald Square store, and is now offering to put $235 million into improving the surrounding area as it seeks approval.
The company first floated the idea in 2019 of building an office tower at the flagship, releasing early renderings that showed a 1.5 million-square-foot skyscraper climbing 700 to 950 feet tall with a sky lobby.
Macy’s CEO Jeff Gennette said the company is ready to move forward with its proposal, which requires a land-use review by the city, Bloomberg News reported.
[Operator Instructions]
I would now like to turn the conference over to David Striph, Executive Vice President, Head of Operations and Investor Relations. Please go ahead.
David M. Striph
Good morning, and welcome to The Howard Hughes Corporation s First Quarter 2021 Earnings Call.
With me today are David O Reilly, Chief Executive Officer, Jay Cross, President, Correne Loeffler, Chief Financial Officer, and Peter Riley, General Counsel.
Before we begin, I d like to direct you to our website, www.howardhughes.com, where you can download both our first quarter earnings press release and our supplemental package. The earnings release and supplemental package include reconciliations of non-GAAP financial measures that will be discussed today in relation to their most directly comparable GAAP financial measures.
The Howard Hughes Corporation® Reports First Quarter 2021 Results
Strong performance continues across portfolio of master planned communities as migration from higher-cost regions fuels robust new home sales, strong land sales and improvements in NOI, and record sales pace continues at Ward Village®
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HOUSTON, May 10, 2021 /PRNewswire/ The Howard Hughes Corporation
® (NYSE: HHC) (the Company, HHC or we ) announced today operating results for the first quarter ended March 31, 2021. The financial statements, exhibits and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results.
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