New Rochelle Taps Consumer Analytics Firm To Identify Queen City’s Best Potential Retailers
Real Estate In-Depth | February 14, 2017
NEW ROCHELLE—The City of New Rochelle has tapped Fort Worth, TX-based analytics firm Buxton to help identify potential retailers prime for relocation to the city as part of its redevelopment plan currently underway. Buxton’s advanced consumer analytics will evaluate the best potential retailers for the city based on the shopping and dining habits of its residents.
Utilizing Buxton’s proprietary web-based real estate platform SCOUT, New Rochelle will be able to analyze retail matches and support development decisions by applying consumer insights that go beyond demographics, presenting a convincing case to retailers seeking growth opportunities.
“As part of our groundbreaking redevelopment plan that is expected to attract more than $4 billion in new development, we are pleased to partner with Buxton, who will bring the wealth of their national experience to grow our retail and restaurant sector in New Rochelle,” said New Rochelle City Manager Charles B. Strome, III.
“Our goal is to leverage Buxton’s advanced technology to meet the city’s immense redevelopment potential to generate greater economic vibrancy and increase job creation for the residents of New Rochelle, said Ayanna Wayner, executive director of the New Rochelle Industrial Development Agency.
“New Rochelle provides a great home to its residents,” said Robb Miller, director of sales in Buxton’s public sector division. “We’re excited to assist New Rochelle’s city leaders as they work to recruit the best retailers for their needs.”
Buxton has worked with more than 750 cities nationwide to implement retail development strategies. Current and past clients include Pasadena, CA; Downtown Dallas, Inc.; the Georgetown Business Improvement District in Washington, D.C.; Fayetteville, NC; Cedar Rapids, IA and others.
New Rochelle’s partnership with Buxton will enhance retail growth as part of the city’s redevelopment plan, which includes the rezoning of 279 acres of land around its train station and its downtown area. New Rochelle’s Downtown initiative was launched in 2015 with the signing of a Master Development agreement with RDRXR—a joint venture of RXR Realty and Renaissance Downtowns LLC – and will include up to 2.4 million square feet of prime office space, one million square feet of retail, 6,370 housing units and 1,200 hotel rooms. With the total build-out of the downtown core totaling 12 million square feet, one million square feet will be dedicated solely to retail space, which will help round out the city’s diverse offerings and make New Rochelle the ideal place to live, work and grow.