Broad Street Site Market Feasibility & Impacts Study

Location

Port Chester, New York

Client

Renatus Group

Project Lead

Urbanomics

Services

Market Analysis

Papp Architects

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Urbanomics prepared a HUD 223(F)loan program-compliant market analysis, as well as economic and fiscal impact analyses for a 1-acre, proposed transit-oriented development mixed-income apartment project located adjacent to the Port Chester Metro-North station. The market study evaluated future market demand based on the latest county forecasts for the proposed 286 rental units across a range of age groups and income levels to determine likely demand for the project’s target market. The economic impacts analysis determined likely impacts for two development scenarios including a mix of residential, retail, and restaurant uses.
Urbanomics prepared an income-based valuation based on preliminary rents to determine the project’s fiscal impacts. The fiscal impacts analysis also utilized a customized school child mitigation tool previously prepared by Urbanomics for the Port Chester IDA.