Future of Fifth Economic Impacts Analysis
Future of Fifth Partnership, a coalition of New York City agencies and business improvement districts, selected BJH to conduct an economic impacts analysis of holiday public realm programming within the Midtown Fifth Avenue retail corridor.
To fulfill this objective, BJH developed data models that combined agency-provided taxable sales and private location-based service data.
BJH also interviewed representatives of several prominent stakeholders along Fifth Avenue, including five-star hotels, internationally recognized luxury retail destinations, and global real estate companies to collect qualitative information regarding economic impacts.
These efforts served to create a comprehensive narrative around the impacts of COVID-19, holiday Open Streets, and Open Restaurants on retail sales along Fifth Avenue.
The final Future of Fifth report serves as a roadmap for making Fifth Avenue a more accessible, equitable, and enriching space for visitors and residents.
