The NYC was planning to close several blocks of Broadway through Times Square and Herald Square and turn them into pedestrian plazas. I'm not sure if the project is actually going ahead. I don't frequent those parts of the city due to insane traffic (!!!) and I haven't found more info on that.

This is an article from last year:

http://www.nytimes.com/2009/02/26/ny...6broadway.html

PS. It looks like it's a done deal!