Retail Market Assessment

White Plains Business Improvement District

Downtown White Plains, White Plains, NY

Like many older urban locations, the retail district in downtown White Plains evolved over the past forty years as demographic trends, changing retail preferences, additions to the competitive supply, and the advent of online shopping has impacted stores in the area.  Since the financial crisis of 2007/2008 and the recent recession, the once thriving downtown was experiencing an increasing number of vacancies.  In an effort to reverse this trend, the White Plains BID engaged RESGroup to perform a retail market assessment, identify issues that may be impacting the retail market conditions in the WP BID, and conduct interviews with local retailers, commercial brokers, and property owners to better understand conditions within the district.

In addition to analyzing demographic data for local residents, workers, visitors, and students, RESGroup conducted and evaluated interviews with local retailers, brokers, building owners and shoppers.  Local development trends were also considered, with a number of mid-rise apartment buildings recently opening or under development in the downtown.

RESGroup identified potential actions that may be considered by the WP BID to address these issues, and provided short- and long-term strategies to attract retailers and reverse the negative trends impacting the downtown.  These strategies included improving mass transit connections with the White Plains Train Station, expanding the BID to include a larger portion of the downtown, facilitating parking through a smart phone app and improved way-finding signage, considering policy changes that would continue to increase residential density in downtown White Plains to create a more 24-7 environment.