NEW YORK (1010 WINS) — Fifth Avenue celebrated its 200th birthday on Sunday, and Mayor Eric Adams marked the occasion with the announcement of an initial infrastructure investment to turn the famed roadway into a pedestrian-centered boulevard.
The $152.7 million city investment is going to the Future of Fifth Partnership’s plan to make the avenue between Bryant Park and Central Park into a more walkable and accessible area. It will cover the entire design and beginning of construction, as well as underground sewer and water main upgrades.
The proposed design, featured in renderings released by City Hall, would expand sidewalks by 46%, shorten pedestrian crossings by one-third and reduce the number of traffic lanes from five to three. More plants, lighting, seating and activation space will also be added to the area.
“Fifth Avenue is an economic powerhouse for New York City—it fuels more than 300,000 jobs and $44 billion in wages,” Adams said. “That’s well-earned money in working peoples’ pockets—and with the $150 million initial investment that we’re announcing today, we’re supercharging that.”
The project is the first major redesign in the avenue’s 200-year history, and Adams said that it is projected to pay for itself in less than five years through increased property sales and tax revenue.
The Fifth Avenue Association will continue its public-private partnership by granting additional investments to the project, City Hall said.
“Fifth Avenue is the very heart of the holiday season. As we kick off the third annual holiday streets and the iconic boulevard’s 200th birthday, we also celebrate the commitment of over $150 million to make improvements above and below ground,” Deputy Mayor for Operations Meera Joshi said. “I want to thank all the groups along the corridor that came together to help design the Future of Fifth.”