Saks expands in NYC with help from tax credits, grants

Saks Fifth Avenue will open an 85,000-square-foot department store in Lower Manhattan’s new Brookfield Place office and retail complex. Parent Hudson’s Bay Company will also consolidate its U.S. headquarters into 400,000 square feet of office space at Brookfield Place, and open the city’s first Off 5th outlet nearby at One Liberty Plaza. The retailer will use $12 million in tax credits and grants for the project, which is part of a larger downtown revitalization Read The New York Times story here