New York City Mayor Eric Adams has announced over $400 million in funding for the “Future of Fifth” project, which will transform Fifth Avenue between Bryant Park and Central Park into a pedestrian-focused boulevard. With an additional $250 million added to a prior $152.7 million commitment, the initiative is the most extensive redesign in the 200-year history of the avenue. The plan is led by a public-private partnership that includes the city, the Fifth Avenue Association, the Grand Central Partnership, the Central Park Conservancy, and the Bryant Park Corporation, with design efforts by Arcadis, Sam Schwartz, and Field Operations.
The Future Of Fifth redesign shifts the balance to pedestrian usage and available space by reducing vehicular lanes from five to three and expanding sidewalks by 46 percent. The street’s new configuration will provide 25 feet of clear walking space on each side of the street, alongside an additional 8.5-foot section dedicated to trees, planters, and pedestrian pathways. Additions include 230 new trees, 20,000 square feet of planters, new seating, and improved lighting. Underground infrastructure upgrades will be completed simultaneously to modernize aging sewer and water systems.
Fifth Avenue sees up to 23,000 pedestrians per hour during peak times but currently allocates only 46 percent of space to sidewalks. The street is responsible for over 300,000 jobs and has seen nearly $4 billion in real estate transactions since the project was first announced in 2022.
“This project represents a new Fifth Avenue not only for shoppers and tourists, but for all New Yorkers who live and work in the neighborhood,” said Ed Hogan, board chair, Fifth Avenue Association; and executive vice president, head of retail leasing, Vornado Realty Trust. “The goal is to transform Fifth Avenue to become the most beautiful street in the city with a design that prioritizes pedestrians. This project will bring more customers to the stores and encourage them to stay longer. A renovated Fifth Avenue will enhance the desirability of the Plaza District and midtown office markets. Beautifying Fifth Avenue, the front door to New York City, will re-energize Midtown Manhattan at a critical moment. I thank Mayor Adams for his leadership and commitment to delivering the type of high street that’s worthy of our great city.”…