Comprehensive Housing Market Analysis For The Hamlets of Bellport & East Patchogue

Location

Brookhaven, New York

Client

Town of Brookhaven

Project Lead

Nelson, Pope & Voorhis

Services

Market Analysis
Housing

Greater Patchogue Foundation, Inc.

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Urbanomics prepared an analysis of the real estate housing market in the study area of Bellport and East Patchogue in partnership with Nelson, Pope & Voorhis for the Town of Brookhaven in order to evaluate the market dynamics of the general housing market and determine the need for and marketability for new attached rental and for sale housing. Urbanomics prepared an analysis of local and regional market trends in the recent past and defined primary and secondary market areas for comparative analysis. Our staff examined external economic forces shaping the local housing market including recent changes in household income, household formation, family size, age and type. Urbanomics collaborated with NPV to prepare an analysis of market demand, utilizing socioeconomic data to determine demand for future household units by tenure and age of householder. Our staff interviewed local realtors as well as key affordable housing providers and government organizations to better understand the demand for market rate and affordable housing units as well as single and multi-family units for various user groups. Urbanomics further worked with NPV to prepare a gaps analysis and market absorption study, findings and recommendations. This worked considered the local community's unique opportunity to serve a growing a growing segment of the population by providing new and attractive TOD development in close proximity to the Bellport LIRR Station and throughout the community.

The findings of the study revealed that there are already affordable single-family homes in the Bellport area. Recommendations were made for other types of housing units, like multifamily apartments for both millennials and 55-plus housing. The housing study along with the 2014 Land Use Plan have been invaluable to the Town has it prepares its Phase 2 BOA study for Greater Bellport. Additionally, the findings have assisted the Town in providing planning support for a Transportation Oriented Development (TOD) near the Bellport Train Station and in making future land use and zoning decisions related to development of new rental and owner occupied housing throughout the community.