Stephen Wilkinson, still keeping up with change in NYC even though relocated to YVR, sends along this:

Times Square Redesign

Snøhetta redesigns Times Square, doubling the amount of public space. The new plaza on Broadway radically carves out 2.5 acres of pedestrian-only space at Manhattan’s core, transforming a congested vehicular district into a world-class civic space.
More photos here.

This is not the part of Times Square to the north that was previously pedestrianized – the location of the red-stepped TKTS booth.  It’s the southern part of the bow-tie.  And if you need an explanation, go this Price Tags on Times Square, published in 2009, when the above was all asphalt.