Macy's and developer TMG Partners are partnering to redevelop the 600,000-square-foot Union Square flagship building. The store may stay open, and the space could become retail, restaurants, event venues, or housing. No closure timeline is set.
This is huge news for Union Square. It's been well over a year since Macy's announced the closure of its flagship location in Union Square, and everybody has been wondering what's gonna happen with the space. Well, Macy's just announced that they've entered into a joint venture agreement with TMG Partners to completely redevelop the landmark building, and they will be working together over the next many months to figure out how to reutilize and adapt the 600,000-square-foot space. And even better, there's no firm timeline on when the store will close, and it actually might not close at all. There are so many things that space could be used for. Is huge. More retail, more restaurants, event spaces, housing— there's so many possibilities. Union Square obviously got really hard hit during the pandemic, and it's great to see it move forward into the next phase, especially with potentially Macy's in tow. Let me know what you think the Macy's building should be converted into, and follow me for more Bay Area real estate.
