Imperial Schrade Market Analysis & Fiscal Impacts Analysis
Ellenville, New York
Ellenville Development Partners
John DeSanto/Times Herald-Record
Urbanomics prepared an economic impacts analysis and highest and best use study for the Schrade and Hydro properties located in Ellenville, NY as part of a redevelopment study prepared by BFJ Planning for Ellenville Development Partners (and funded in half by the Ulster County IDA). The site included a 450,000-square-foot manufacturing building that previously housed Imperial Schrade and Channel Master plants. On a separate, adjacent parcel was a 315,000-square-foot aluminum manufacturing facility used by VAW of America and Hydro Aluminum.
Urbanomics' assessment of market feasibility was prepared for six potential redevelopment scenarios including a distribution/logistics center, film studio, green industry manufacturing plant, entertainment venue, accommodations support facility and casino support facility based on current market supply and demand. Fiscal impacts, including the impact on property tax revenues and school child costs, were evaluated for all proposed redevelopment scenarios.
Our findings determined that multi-family housing would provide the greatest fiscal benefit to local taxing districts but would likely produce significant costs to the school district. The assessment found that an entertainment or recreational venue would also provide substantial benefits but with little costs and was well-suited for the site in terms of infrastructure and market demand.