Annual Meeting: October 12

This year’s annual shareholder meeting will take place virtually on October 12. Watch your mail and e-mail for log-in details.

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  • Happy Days in Union Square

    The Villager reports:

    This year has witnessed many milestones in the ongoing renaissance of the Union Square district. While New York City and the nation struggle to break free from this recession, Union Square stands as a rare bright spot and is poised to remain a vibrant neighborhood during these worrisome times.  

    The arrival of more than a dozen new businesses plunged the district’s retail vacancy rate below 4 percent, making Union Square among the most viable business locales in the city. Retailers lululemon athletica, Skechers, Muji and 7 for all Mankind, as well as new eateries Pret a Manger, Crumbs, Lillie’s, Cantina Latina and Momofuku Milk Bar, helped to strengthen the broad base of offerings in the area. 

    And while the departure of Circuit City and the Virgin Megastore was a temporary cause for concern, we couldn’t be more pleased that Best Buy chose to open its first 24-hour store in the nation in the former Circuit City space this month, and that next spring, the city’s first Nordstrom Rack will open in the lower level of the Virgin location. Our partners at The Related Companies are to be congratulated for moving so quickly to fill our district’s most visible retail space.  

    The north-end project in Union Square Park, now more than 90 percent complete, has been eagerly followed by park lovers and community stakeholders. This is why we are very pleased to announce that the community’s new and expanded 15,000-square-foot playground is set to open this month. In addition, pedestrians can now walk the repaved 16th St. transverse complete with new park benches. The western, northern and eastern plazas, which had been resurfaced and reopened earlier this year, have been well received by visitors and Greenmarket vendors alike, with a new row of 25-foot-tall Japanese pagoda trees lining 17th St. and Union Square West. Additional features of the renovation include the rehabilitated pavilion and additional restroom facilities, which should be completed by the end of the year.  

    The Partnership’s ongoing beautification efforts, combined with the district’s engaging and vibrant lifestyle, continue to attract people from across the city to our area for a variety of reasons. We once again made a series of targeted investments for the upgrading, maintenance and beautification of the park. The high points of this season’s efforts include the expansion of the stone screening area of the center lawn by 2,500 square feet to accommodate additional bistro tables and chairs, as well as the expansion of many of the planting beds throughout the park. The Partnership also funded improvements to the dog run, including a new gravel surface and much-needed repairs to the dog run entrance walkway, which had been flooding after heavy rain. 

    Partnership-sponsored programming was a big draw this year, especially our free Summer in the Square series, which once again proved to be a hit with children and adults alike, featuring fitness classes, kids’ programming and multiple musical performances. We expanded our selection of volunteer events from the biannual It’s My Park! Day, to preparing food for those in need with God’s Love We Deliver, to collecting food from Greenmarket vendors at the end of a busy day for City Harvest. One of the most anticipated occasions in the Union Square district every year is the annual Harvest in the Square, the city’s premier food-tasting event. This year more than 50 restaurants and beverage companies served signature dishes and cocktails to over 1,000 foodies. These events are all great ways for active residents and employees to come out and give back to their community while getting to know their neighbors.  

    Union Square continues to be among the cleanest districts in the city, which is crucial to its overall success. Our Sanitation Team has worked thousands of hours sweeping sidewalks and removing tons of garbage to ensure the area is inviting. With a 59 percent increase in foot traffic over the last five years in the neighborhood, more trash receptacles were added, including Big Belly Solar compactors, which reduce our carbon footprint by decreasing the number of garbage bags used and lessening the number of vehicular pickups.  

    Another important factor to Union Square’s vitality is the Greenmarket. As New York City’s largest and most famous greenmarket, the year-round, open-air market attracts shoppers from around the region looking to support their local farmers. 

    Union Square’s rich history is relived every week during the Partnership’s Crossroads of New York walking tour, which draws a diverse group each Saturday for a free, 90-minute exploration of the social and political history of the neighborhood through discussions of the people, architecture and forces that have shaped the community. 

    While the past year has been eventful for the Union Square district, there is more to look forward to in the upcoming months, especially the annual Holiday Market operated by Urban Space Management, which returns to the south plaza on Nov. 25 and runs through Christmas Eve. Don’t forget to stop by the Holiday Market’s information booth and pick up your restaurant coupon flier good for discounts at 22 local eateries 

    The Union Square Partnership team, including our board of directors, Residential Advisory Committee members, business partners and staff, work hard to make sure that Union Square remains a flourishing community. To follow the district’s progress, learn more about our work and sign up for our monthly newsletter, visit us at www.unionsquarenyc.org .

  • Hyatt Hotel Update

    Hersha Hospitality Trust, owner of upscale and select service hotels in major metropolitan markets, announced that the Company has entered into a purchase and sale agreement to acquire the 175-room Hyatt Union Square hotel in New York City at 4th Ave and 13th Street for total consideration of $104.1 million, or approximately $595,000 per key. The transaction is expected to close shortly after the seller completes the hotel’s construction. The consideration to the seller consists of $36 million paid to the seller in cash, the cancellation by the Company of a $10 million development loan made to the seller, accrued interest on the loan and the assumption by the Company of two mortgage loans secured by the hotel in the original aggregate principal amount of $55 million. While this purchase and sale agreement secures the Company’s right to acquire the completed hotel, the Company is not assuming any construction risk, including the risk of schedule and cost overruns. The hotel is expected to open in 2012.

  • Union Square Partnership Gathers Resident Opinions

    How do you feel about Union Square. The Union Square Partnership does an annual opinion survey to find out. Some thoughts from the results:

    FOSTERING A THRIVING ECONOMY IN USQ
    USP asked respondents to share the types of businesses
    they would like to see in Union Square. Half of respondents
    would like to see more cultural institutions (50%),
    followed by art galleries/exhibitions (48%), and cafés/
    coffee shops (47%). Many respondents mentioned wanting
    to see more local businesses — including small, curated
    stores, non-chain coffee shops and eateries, and specialty
    grocery stores. This feedback highlights a strong community
    interest in maintaining a vibrant retail environment in
    Union Square rooted in unique, local offerings.

    ENHANCING LIVABILITY IN USQ
    USP is committed to keeping Union Square clean, safe, and
    beautiful. The majority of respondents are satisfied (very
    satisfied and somewhat satisfied) across key metrics of
    USP’s work enhancing livability. Respondents reported the
    highest levels of satisfaction with the landscaping of Union
    Square Park (87%), planter landscaping (87%), Broadway Plaza
    maintenance (85%), and public seating areas (77%). While
    most respondents remain pleased with the district’s upkeep,
    some expressed a desire for extended hours and seasonality
    for the public seating areas as well as improved lighting,
    especially in Union Square Park and surrounding streets.
    Following USP’s 2023 launch of the Public Safety Officer
    (PSO) program, perceptions of public safety improved by
    15 points in the 2024 survey. The 2025 survey results show
    that this perception has largely stabilized, with 87% of
    respondents noting that their perception of public safety
    in USP’s Core Services Area (CSA) has improved or seen
    no change over the past year. Moreover, the percent of
    respondents reporting concerns around public safety within
    the CSA decreased by 15% in 2025 compared to 2024.

  • Latest New School Construction Update

    Next week (August 20 to August 24), Material and equipment deliveries and installation work will continue on all floors. Curtain wall installation on upper floors will continue and lower levels will continue on 13th st. with the aid of a small crane. The crane will remain on 13th st. for the purpose of curtain wall installation.

    The following week (August 27 to August 31) Material and equipment deliveries and installation work will continue on all floors. Curtain wall installation will continue on all floors. Work on 13th st should be complete by the end of this week and will be moved to 5th ave. to continue wrapping the building.

    This weekend the site will be open on Saturday, August 25th for superstructure related activities and curtain wall installation between the work hours of 7AM and 5PM as permitted by the City. The crane on 13th st. will not be used during the weekend. Con Ed is on site working on the building but is not in any of the streets.

    Additionally over the holiday weekend the site will be open on Saturday, September 1st but will be closed on Monday, the 3rd.