Capital Region housing developers finding opportunity in infill housing: “We are not afraid anymore”
Cross-posted from our coalition member Empire State Future.
Throughout New York State demand for downtown living continues to expand as baby boomers are ditching the cul-de-sac and generation X and Y are re-envisioning their American Dream. The change in consumer preference has already driven a million people to the “City that Never Sleeps”, New York City, since 1990, with another million New Yorkers expected by 2035. As people continue to find the value and livability of urban living in New York City and many of New York State’s 61 smaller cities, reuse of existing commercial and industrial structures as well as infill development on abandoned and vacant lots will play a role in serving the increasing demand for residential units.
As each state-commissioned Regional Economic Development Council releases their strategic plans, major calls for smart growth are materializing. This is advantageous for numerous developers who have already made the transition to building residential properties in existing downtowns and on or near main streets. Over the next few weeks ESF is going to highlight a few of these projects from across the state to show what New York’s cities will have to offer in the years to come.