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Over the past decade, GCP has literally changed the face and the look of Midtown Manhattan by implementing a comprehensive capital improvement program that creates an aesthetically pleasing and welcoming community atmosphere in the Grand Central neighborhood. GCP’s capital improvement program has been responsible for the design and installation of street furniture, new state-of-the-art streetlights that dramatically brighten the sidewalks and streets of the Grand Central neighborhood, easy-to-read street signs, and decorative sign display frames and poles, as well as the construction and maintenance of more than 100 accessible granite street corners.
GCP's Capital Projects Division oversees this ambitious capital improvement and maintenance program, including such notable and highly visible initiatives as the illumination of the façade of Grand Central Terminal, the Library Way and UN Way projects, and the development of Pershing Square Cafe and Pershing Square Plaza into a warm weather public plaza and outdoor café area. In addition to implementing GCP’s capital program with the oversight of the Construction Committee and board of directors of GCP, the Capital Projects staff works in close cooperation with property owners and with city agencies, including the New York City Department of Transportation, Department of Parks, and Department of Small Business Services, on these initiatives. Many of these capital improvements have been directly financed with proceeds from tax-exempt capital improvement bonds offered for sale in 1992, and refunded in 1994 with the support and cooperation of the City of New York.
One of the major success stories of GCP’s highly regarded capital program is its innovative multiple newsrack project. GCP operates more than 100 multiple newsrack units strategically located throughout the Grand Central neighborhood that feature nearly 70 publications, including daily paid newspapers and free weekly and monthly publications. Initiated in 1997 with the support of publishers, property owners, and the City of New York, the newsrack program has virtually eliminated much of the unsightly sidewalk clutter on the sidewalks of the Grand Central neighborhood created by individual and poorly maintained newsboxes. In return for voluntarily agreeing to remove their individual newsbox units from the sidewalks of the BID, publishers can participate in the GCP newsrack program. The program has become a model for other business improvement district management companies and cities around the world.
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