‘Live, Work, Play' Model is Alive And Well in Westchester County
John Jordan | April 2018
NEW YORK—In its second major real estate event in April, the Hudson Gateway Association of Realtors hosted a panel discussion focused on Westchester County at the 10th annual New York City Real Estate Expo held on April 18 at the New York Hilton Midtown.
The afternoon program entitled “Westchester—Opportunity Knocks” was moderated by Westchester County Executive George Latimer. The panelists for the roundtable were: Paul Adler, Esq., chief strategy officer, Rand Commercial; Dr. Marsha Gordon, president and CEO of the Business Council of Westchester; Sarah Jones-Maturo, president of RM Friedland and Robert P. Weisz, CEO of the RPW Group.
The event was geared at promoting Westchester County as a business location to New York City real estate professionals. The Business Council of Westchester’s Gordon gave an overview of the chief attributes that make Westchester a destination for business, including easy access to New York City, talented workforce, strong educational institutions and quality of life.
She and other members of the panel noted the significant investment in transit-oriented development taking place in Mount Vernon, Yonkers, New Rochelle, White Plains, Peekskill and other smaller communities that are featuring rental apartments and other uses that are attracting both young professionals and empty nesters. Gordon also told the more than 100 attendees of the program that the biotech and heath care sectors are “remaking” the Westchester economy.
“The ‘Live, Work and Play’ Model is alive and well in Westchester,” she noted.
Weisz said that the Westchester County office market is currently the strongest it has been in the last 20 years and he believes a good part of its strength is due to the multifamily development now taking place in the county that will continue to attract the qualified workforce businesses desire.
Adler said simply that Westchester’s “intellectual capital” is in fact the county’s “greatest asset.”
RM Friedland’s Jones Maturo said that the retail market in Westchester is mirroring national trends with conventional bricks and mortar struggling and “experiential retail is really coming to the forefront.” In the past 90 days her brokerage firm has brokered nine fitness spa related lease transactions. She also said that food and beverage related retail is also active in the county.