Eagle Ridge Peer Review & Housing Market Feasibility Study
North Castle, New York
Town of North Castle
MADDD Madonna Armonk, LLC
For the Town of North Castle, New York, Urbanomics prepared a review of the proposed Eagle Ridge development feasibility study in order to determine the soundness of key development assumptions such as the appropriateness of development comparables, ADRs, occupancy, capitalization and interest rates as well as the feasibility of a 97-room hotel with or without an additional 50-100 unit multi-family residential buildout.
For the review of the multi-family buildout proposal, Urbanomics prepared a housing market analysis and socioeconomic profile of North Castle including a demand forecast over a 20-year period by age of householder above minimum affordable income levels necessary to afford the proposed housing units.