A City Hall initiative from last year dubbed “The Future of Fifth” aimed to steer the avenue away from cars. A new analysis shows that last holiday season’s Open Streets program was a boon for business in the area.
Businesses along those streets recorded 13.9% more transactions than others, amounting to an average $90,000 in additional spending at each merchant per day, the study revealed. Now, the initiative aims to bring that vision to life and make it a permanent fixture of the corridor by establishing a public-private partnership between New York City and four key business improvement districts and civic organizations: the Fifth Avenue Association, Grand Central Partnership, Bryant Park Corporation and Central Park Conservancy.