Macy’s Union Square Stays Open: A New Chapter for Downtown SF
After years of speculation about its imminent closure, Macy’s Union Square will remain open for the foreseeable future. A significant new partnership between the retail giant and Bay Area real estate firm TMG Partners aims to reimagine the potential of the iconic building, bringing a wave of optimism to downtown San Francisco.
A Dramatic Reversal for a San Francisco Landmark
Earlier reports in February 2024 suggested that the massive Macy’s location at 170 O’Farrell St., covering the south side of Union Square, was slated for closure. This news had cast a shadow of uncertainty over the future of one of the city’s most prominent retail anchors. However, a recent announcement has brought much-needed clarity, confirming that Macy’s Union Square is not closing its doors anytime soon.
TMG Partners Teams Up with Macy’s for a Bold Vision
The new partnership with TMG Partners signals a strategic move to “explore the future potential” of the historic property. Michael Covarrubias, Chairman and CEO of TMG Partners, expressed enthusiasm for the venture, stating, “We foresee something very experiential, exciting and bringing together a mix of uses.” This collaboration is expected to evaluate various improvements and uses for the building, aiming to better serve office workers, residents, shoppers, and local businesses.
TMG’s Local Impact
TMG Partners has a strong track record of successful projects throughout the Bay Area. Their notable local developments include the transformation of 1000 Van Ness Ave., which now houses the Apple Cinemas, the Landmark at One Market near the Embarcadero, and the Public Market in Emeryville. Their expertise in revitalizing large-scale properties positions them well to lead this ambitious project for Macy’s Union Square.
Union Square’s Continued Revitalization
This positive news for Macy’s aligns with a broader resurgence of activity in the Union Square district. Recent openings, such as Pop Mart, Moscot, and chef Michael Mina’s Bourbon Steak, signify a growing confidence in the area. Furthermore, Mayor Daniel Lurie’s “Vacant to Vibrant” program is bringing new life to Powell Street, with an Off the Grid brick-and-mortar pop-up and a Dandelion Chocolate shop set to open. The partnership between Macy’s and TMG Partners is another significant step toward enhancing the vibrancy of this central San Francisco neighborhood.
| Previous Expectation | Current Reality |
|---|---|
| Macy’s Union Square was closing its doors. | Macy’s Union Square will remain open for the immediate future. |
| Uncertain future for the large department store building. | New partnership to explore mixed-use development, including potential housing. |
| Potential further decline for Union Square retail. | A strong signal of revitalization and investment in downtown SF. |
What’s Next for the Iconic Store?
Macy’s and TMG Partners are currently studying the property, and more details about their specific plans are expected to be shared in the coming months. Reports suggest that housing may be a part of the future development. In the meantime, beloved holiday traditions like the SF SPCA Holiday Windows and the Macy’s Great Tree lighting are slated to continue, ensuring the festive spirit of Union Square remains intact. The fate of Macy’s famous sixth-floor bathroom, a local point of interest, also remains a topic of curious speculation.
Frequently Asked Questions
- Is Macy’s Union Square closing after all?
No, contrary to earlier reports, Macy’s Union Square will remain open for the immediate future. A new partnership is exploring its long-term potential. - Who are TMG Partners?
TMG Partners is a large, well-known Bay Area real estate firm with a history of reimagining and developing significant local projects, including 1000 Van Ness Ave. and the Public Market in Emeryville. - What will happen to the Macy’s building?
Macy’s and TMG Partners will study the property to determine the best future uses, which could include a mix of retail, experiential spaces, and potentially even housing, alongside its continued operation as Macy’s. - How does this news impact Union Square?
This development is a significant positive for Union Square, reinforcing a trend of revitalization with new businesses opening and ongoing city initiatives like “Vacant to Vibrant” bringing renewed energy to the district.
This new partnership offers a beacon of stability and an exciting promise for the continued vibrancy of San Francisco’s iconic Union Square, suggesting a dynamic future for one of the city’s most cherished retail destinations.
Macy’s Union Square Saved Partnership Revitalizes SF
