Planning & Economic Analysis for Development Site
A private developer envisions a Brooklyn redevelopment that meets the needs of businesses today, while creating the look and feel of an older neighborhood. This vision includes a tenant mix of various small businesses – industrial and food manufacturing, designers, architects, tech, real estate – that will coexist together. To test if the developer’s vision aligns with neighborhood trends, Karp Strategies conducted a thorough and thoughtful planning and economic analysis of the area surrounding the site, examining demographic, employment, business, and overall economic trends. The firm oversaw specific analytical comparisons of the neighborhood’s strengths to those of the borough and city, and augmented quantitative analysis via one-on-one interviews with business owners in key manufacturing growth areas who might someday be interested in occupying a building with a mixed ecosystem. Karp Strategies’ analysis allowed the development team to better assess its vision for both the physical construction of the building and the future programming/tenant mix. Deliverables of this engagement included an analytical memo of findings and presentation slides for external use, and participation at meetings with city agencies as needed.