Gardens At Harriman Station Market Analysis & Impacts Analysis

Under contract to the Gardens at Harriman Station LLC, Urbanomics prepared a market feasibility assessment, an Empire State Development capital grant fund application and economic impacts analysis for a proposed large-scale transit-oriented development (TOD) in the Village and Town of Woodbury, in Orange County, New York. Located adjacent to Harriman Station, the busiest Metro-North Train Station on the Port Jervis line, the project is considered the largest TOD project yet proposed in Orange County and furthers long-time municipal goals for a large TOD project in the area. The project represents a $430M private investment on 130 acres consisting of more than 1,500 housing units and over 350,000 SF of commercial space and professional offices. Urbanomics prepared a residential market demand analysis for apartment and townhome housing units as well as a commercial market demand analysis for retail, restaurant, office, and hotel uses. Additionally, Urbanomics modeled the potential economic impacts of construction, operations and household occupation of the final development plan in terms of one-time and annual impacts.

In 2020, Urbanomics began work on the project's Draft Environmental Impact Statement which included an update of the market analysis as well as a review and revision of the Fiscal Impact and Community Facility chapters. Urbanomics' work to date has shown significant regional demand for the residential and commercial components of the project and sizeable economic benefits expected if completed with more than $800 million in one-time construction benefits and $200 million in annual business revenues.