Real Estate Market Analysis & Redevelopment Plan for Village of Mamaroneck
Mamaroneck, a 6.5 square mile village in Westchester County, New York, hired BJH Advisors as part of a multidisciplinary team, to create a plan for the revitalization and redevelopment of a 70-acre area historically utilized for light industrial businesses. The area had experienced increases in vacancy over recent years, and the primary use was long-term parking. Yet, the site was located within close proximity to the downtown core and MetroNorth train station. BJH conducted analysis of the demographic composition of the village, business environment, labor markets, as well as the residential, commercial office, retail, industrial and hotel real estate markets in the Village and several benchmark communities in the region. The analysis identified the unique strengths and opportunities that could engender business growth and real estate development in the 70-acre area of Mamaroneck. The plan that emerged from the analysis promoted introduction of destination fitness / recreation spaces and small office uses alongside existing job-intensive industrial uses.
