"The most reliable data shows an overall 7% increase in vehicle speeds—an improvement few thought could be achieved in Midtown traffic," Bloomberg said at a news conference Thursday. The evaluation report of bypassing the formerly congestion-prone intersections utilized two sets of traffic data: GPS records from more than two million taxi trips and field travel time surveys conducted by the NYCDOT, the Bloomberg administration says.

Bloomberg added, "We found even better results in the area of safety, with dramatic reductions in accidents"—a 63% drop in motor vehicle accidents and a 35% decline in pedestrian injuries. "Surveys indicate clear support among New Yorkers and local businesses for the project, and the increased foot traffic has been good for business."

According to the NYCDOT evaluation, pedestrian traffic rose 11% through Times Square and 6% in Herald Square. Separately, the Times Square Alliance conducted a survey that found 76% support among New York City residents for making the plazas permanent, while 68% of retail managers agreed. The BID's survey also found that 60% of Times Square workers, 60% of property owners and building managers, and 71% of local retail managers felt Times Square has been improved since the project was implemented. A Quinnipiac University Poll from last summer found 58% support for the pilot project.

"New Yorkers were skeptical at first," Tim Tompkins, president of the Times Square Alliance, says in a statement. "But the bottom line in two different independent surveys we commissioned is that across virtually every category, the majority of New Yorkers, tri-state residents, local employees, property owners, store managers, theatergoers, executives and our board members all feel that the plazas should be made permanent, and that Times Square has improved as a result of the plazas."

Further, Tompkins says, "Since the majority of those surveyed made clear they want the permanent plazas to be world-class in terms of design and appearance, we look forward to working with the city to make the Times Square plazas well-designed, using high-quality materials."

Up next is a series of surface treatments for the plazas, intended to improve the aesthetics while a permanent capital project enters the design phase. The treatments will be selected through a competitive process by a committee consisting of design professionals, stakeholders from Times Square and representatives of the Mayor's Office, the NYCDOT and the Public Design Commission.

Similarly, the city's Department of Design and Construction will oversee a selection committee for the permanent redesign of the plazas. The redesign will incorporate new paving and permanent seating, as well as underground infrastructure for sound and lighting equipment to accompany events held in Times Square. The project will also conduct the first complete reconstruction of the roadways through Times Square in decades.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.