Mayor says Times Square could provide inspiration for the future regeneration of London’s Oxford Street

• Times Square regenerated with new pedestrian plazas improving public safety, air quality and economic output
• Sadiq given tour by former New York Transport Commissioner, Janette Sadik-Khan
• Mayor says scheme can provide inspiration for his plans to transform Oxford Street

The Mayor of London, Sadiq Khan, will today visit Times Square to see at first-hand how the iconic New York landmark could provide inspiration for the future regeneration of Oxford Street.

Times Square and its surrounding areas have been comprehensively regenerated since 2009 to create a series new and enhanced spaces to walk, sit, and cycle, transforming it from one of New York’s most notoriously congested spacesinto a world-class civic space that has boosted economic activity and improved safety.

Accompanied by Janette Sadik-Khan, a principal with Bloomberg Associates who was New York Transport Commissioner and the driving force behind the Times Square scheme under former Mayor Michael Bloomberg, the Mayor learnt how the project has doubled the amount of pedestrian space and led to improvements in public safety, air quality, and economic output.  As a result, 93 per cent of visitors said that the pedestrian plaza makes Times Square a more pleasant place to be. The number of pedestrians in Times Square soared by nearly a quarter in just five years, to 482,000 people a day in 2013, helping spur a more than doubling in the value of retail space in Times Square as major retailers opened new stores. Within two years of the project being implemented, Times Square was made the list of the 10 most desirable locations to do business, according to Cushman and Wakefield. 

 In total, more than 110,000 square feet of pedestrian space has been created, leading to a 40 per cent reduction in pedestrian injuries and a 15 per cent drop in road traffic casualties. Crime in the area fell by 20 per cent and more than 80 per cent of visitors said that they feel safer. While it comprises only 0.1 per cent of New York City’s land area, Times Square supported nearly 10 per cent of the city’s jobs before the pandemic, generating 15 per cent of its economic output. 

Last week, Sadiq set out proposals to transform Oxford Street to ensure it can be a catalyst of London’s economic prosperity for decades to come. These proposals include transforming it into a traffic-free pedestrian boulevard and delivering an enhanced experience for shoppers, residents, employees, visitors and tourists.

Sadiq believes that Times Square can provide inspiration for the future regeneration of Oxford Street, creating new jobs and economic prosperity.

The Mayor is in New York this week to encourage US businesses to expand and invest in London, and promote the capital as an unrivalled destination for tourists and sporting events.

The Mayor of London, Sadiq Khan said: “I am delighted to visit Times Square to see how the incredible regeneration here can provide inspiration for our plans for Oxford Street.

“We have a once-in-a-generation opportunity to transform Oxford Street to deliver a safer, greener part of the capital that creates new jobs and boosts growth for London and other parts of the UK.

“If we can replicate some of the aspects of Times Square on Oxford Street, I am sure we can create a high street destination that will be the envy of the world once again." 

Former New York Transport Commissioner, Janette Sadik-Khan, said: “Great streets make great cities. Bringing new life to old streets like Broadway and Oxford Street offers new possibilities for a city that is healthier and more prosperous for millions of people. Reimagining Broadway showed that this can be done quickly, inexpensively and that it can be wildly popular.”  

John Dickie, Chief Executive at BusinessLDN, said: “Oxford Street is one of the world’s most celebrated shopping destinations and, like Times Square, needs modernisation to keep it a truly twenty-first century global destination. The Oxford Street Mayoral Development Corporation, working with local stakeholders and learning from other global cities, is a powerful vehicle to deliver the change that Oxford Street needs, to make it cleaner, greener and more attractive to visitors and Londoners alike.” 

Dee Corsi, Chief Executive of New West End Company, the body representing 600 businesses in London’s West End, said: "The regeneration of iconic spaces like Times Square offers valuable insights as we work towards Oxford Street’s transformation and secure its place as a world-class flagship retail and leisure destination. By learning from successful projects in global cities, including New York, we can ensure that Oxford Street continues to deliver for visitors, residents, and businesses alike. It is crucial that we maintain momentum to deliver this transformation swiftly, realising its benefits for Londoners and the wider UK economy as soon as possible."