Macy's reveals Herald Square revitalization plan
Dive Brief: Macy's may be rethinking its overall store strategy, but on Monday the company revealed plans regarding the renewal of its flagship location at Herald Square in New York City, according to a press release sent to Retail Dive. The project involves a $235 million private investment in the neighborhood surrounding the store, including Herald Square's infrastructure, with upgraded subway access and improved transit connections. The company will also build a commercial office tower above the store. Macy's forecast that the plan will generate $269 million in yearly city tax revenues...
Source: retaildive.com