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3h ago

Macy’s Picks TMG to Reimagine Union Square Flagship as Store Stays Open

The partnership begins a months-long review of mixed-use possibilities tied to San Francisco’s downtown recovery push.

A view of Macy’s Union Square in downtown San Francisco, Tuesday, Feb. 27, 2024. 
Pedestrians walk past Macy’s Union Square in downtown San Francisco, Tuesday, Feb. 27, 2024. 
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The Union Square flagship store has been in operation since 1929.

Overview

  • Macy’s and TMG Partners will jointly study the future of the roughly 600,000-square-foot property that spans the south side of Union Square at 170 O’Farrell Street.
  • The agreement delays the previously announced 2024 shutdown, and the flagship will continue operating for the immediate future.
  • The review will assess adaptive reuse options such as retail, hotel, housing, and experiential concepts, along with improvements for shoppers, workers, residents, and nearby businesses.
  • TMG Chairman and CEO Michael Covarrubias outlined a vision for an experiential, mixed-use destination, reflecting the firm’s Bay Area track record at sites like 1000 Van Ness and the Landmark at One Market.
  • The move aligns with renewed Union Square leasing and pop-up activity and with city programs like Vacant to Vibrant, with the partners planning to share more details in the coming months.