New Report on Housing Development in Westchester County Discussed at General Membership Meeting
The joint membership meeting between Building and Allied Construction Industries-NAHB and the BRI, held virtually on February 20th, brought together industry professionals for an insightful discussion on new development trends in Westchester County. The focal point of the meeting was the recently published report, A Frontline Report of New Development in Westchester County: Surprising Impacts and Opportunities, produced by RM Friedland and Foretold.
John Barrett, CIREC, Senior Vice President and Managing Director of the Investment Sales Division at RM Friedland, led the discussion, offering firsthand insights into the report’s findings. Attendees gained a comprehensive understanding of the evolving relationship between real estate development, community needs, and economic vitality in Westchester County.
Key takeaways from the meeting included:
- Geographic Trends: Certain cities, towns, and villages have become focal points for new housing, with varying levels of absorption rates and demand.
- Demographic Shifts: The influx of new residents into these developments is reshaping local demographics and consumer needs.
- Affordability and Economic Impact: The effects on affordability remain mixed, with some areas seeing rising property values while others continue to grapple with housing accessibility.
- Local Infrastructure Considerations: The expansion of residential communities has had notable implications for school enrollments, public services, and local business activity.
For those who missed the meeting or wish to review the report in detail, A Frontline Report of New Development in Westchester County is available here.