Megan Guy, Simone DevelopmentNew York, NY Megan Guy, development director at Simone Development Companies, was a featured panelist at the annual Real Estate Women’s Forum: New York on February 16th addressing “Emerging Neighborhoods & Markets on the Rise.”
Guy and fellow panelists discussed trends and neighborhoods of interest including East Williamsburg, East Harlem and The Bronx, which has one of the fastest growing populations in New York. Guy also delved into topics like affordable land prices, infrastructure improvements underway and specific neighborhoods developers are watching closely.
“It was a privilege to join such a talented panel and discuss trends in development. We had a compelling conversation,” Guy said. “It was interesting to examine what amenities developers are offering in these neighborhoods. All the panelists had excellent observations, and it was a pleasure to discuss these topics with other thought leaders.”
According to panel participants, initial indicators that a neighborhood is ripe for development include access to transportation, employment and housing, often through rezoning for residential development. To continue to succeed, panelists agreed new neighborhoods need to offer live/work/play environments that appeal to millennials and provide the conveniences offered in established neighborhoods such as coffee shops, restaurants, walkability, parks/open space and easy commutes.
In the Bronx, home base of Simone Development Companies, Guy said affordable land prices, rezoning and ongoing improvements to infrastructure are a major draw to developers. Specific neighborhoods to watch are the South Bronx and the Northeast Bronx, including Morris Park, where a new Metro North station is planned adjacent to Simone’s signature property, the Hutchinson Metro Center, a 42-acre complex offering a wealth of first-class amenities in a beautifully landscaped campus setting conveniently located directly off the Hutchinson River Parkway. The new station will offer a 22-minute commute to Penn Station from this Bronx employment center that has created over 6,000 jobs. The Hutchinson Metro Center is home to a variety of healthcare, educational and government offices including Montefiore Medical Center, Mercy College and the borough’s only Marriott hotel.
Guy also noted rezoning is being considered along Eastchester Road, a main thoroughfare in The Bronx that has traditionally been home to a high concentration of light manufacturing and single-story commercial buildings.
Sponsored by Greenpearl, the Real Estate Forum: New York celebrates leading women of real estate in the Northeast. The forum took place at the New Yorker Hotel on the West Side of Manhattan and included an impressive roster of nationally recognized speakers.
Guy, who joined Bronx-based Simone Development in 2016, has specialized in real estate and construction industries for nearly a decade and has overseen projects valued at more than $300 million throughout the United States. Guy currently focuses on all aspects of the acquisition, land use, design, construction, and leasing phases of the company’s projects. She is a regular speaker at industry focused events and conferences.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the New York tri-state area. Headquartered in the Bronx, the privately held company owns and manages more than 5 million square feet of property in the Bronx, Westchester County, Queens, Long Island and Connecticut. The company’s portfolio includes more than 100 properties and ranges from multi-building office parks to retail and industrial space. The company’s largest and most successful development is the 42-acre Hutchinson Metro Center office complex located directly off the Hutchinson River Parkway in the Pelham Bay section of the Bronx.
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