Midtown Holiday Open Street Gave $3 Mil Boost To Local Biz: Mayor

MIDTOWN, NY — The future is on Fifth.

At least that's what a new initiative by Mayor Eric Adams — dubbed "The Future of Fifth" — is betting on after numbers show that last year's holiday Open Streets transformation resulted in big business boosts.

The new study by Mastercard, in partnership with the city's Office of Technology and Innovation, revealed that 2022's holiday season Open Streets initiative — which closed 11 blocks around Fifth Avenue near Rockefeller Center to vehicle traffic— gave business on the pedestrianized corridor a $3 million boot.

Compared to similar, car-crowded retail blocks nearby, the Open Streets shops saw a 6.6 percent increase in spending, the report says.

Now the Mayor wants this new private-public partnership to imagine year-round accessibility for pedestrians along Fifth Avenue.

“The research is clear that Open Streets bring more people to our city’s public spaces, more business to our city’s stores, and more jobs to New Yorkers," said Mayor Adams. "That’s why we are reimagining Fifth Avenue as a safer, less congested, pedestrian-centered boulevard that also prioritizes public space, mass transit, and cyclists."

The 2022 holiday Open Streets saw various city agencies work to fully or partially pedestrianize stretches of Fifth Avenue, Sixth Avenue, West 49th Street and West 50th Street on three Sundays in December.

Overall, business along the pedestrianized streets saw a 13.9 percent bump in transactions and an average of $90,000 in additional spending each day of the Open Street.

“The data is clear: When we give more space to people walking and biking, business thrives,” said Transportation Commissioner Ydanis Rodriguez. “That’s because our streets can accommodate far more people on foot than in cars — a key reason why businesses had such great success during our car-free holiday Open Streets."

Another study in 2022 found that the DOT's Open Streets program helped boost commercial activity during the (still ongoing) pandemic recovery.

That DOT study found that citywide, Open Streets helped to boost sales by 19 percent compared to the before-times, with businesses on regular full-car corridors still at 29 percent below pre-pandemic averages.

While Tuesday's announcement didn't contain any information about holiday Open Streets for 2023, the Mayor was clear that his focus is on the "Future of Fifth."

"We are excited to establish this public-private partnership and bring on this team of exceptional partners who will help us ensure that businesses and pedestrians can enjoy the benefits of a more open, accessible city — not just in December but all year round," Adams said.

The public-private partnership "Future of Fifth" group will have the city working alongside key neighborhood groups, including the Fifth Avenue Association, Grand Central Partnership, Bryant Park Corporation and Central Park Conservancy.

A team of consultant firms in engineering, planning and design will help the group in the permanent redesign process with the goal of making Fifth Avenue more appealing to residents, workers and visitors while creating "world-class public space," according to an announcement.

By mid-2024, the partnership will release a comprehensive plan with conceptual designs, according to the mayor's office.

Madelyn Wils, chief advisor of the Fifth Avenue Association, and co-chair of the “Future of Fifth” Steering Committee, said that the group was "excited to work with Mayor Adams and his administration to create a world-class promenade that is accessible and inviting to all."

This new partnership is the latest transformation the administration has announced for Midtown.

The Mayor announced a plan in April to make Broadway between Madison and Herald squares into plazas and shared streets.

And in August, the city said it was launching a study to transform 42 Midtown blocks currently zoned only for manufacturing into a mixed-use neighborhood.