New York, NY REBNY’s September Commercial Crossfire on waterfront development, hosted by The Howard Hughes Corp. at One Seaport Plaza, was heavy on amenity opportunities. While most consumers understand amenities to be gyms, coffee shops, attended lobbies, etc., most forget that the view you can offer your tenants also applies. The main goal should be to provide as much as possible on-site, especially on the waterfront. These areas tend to be more remote than the rest of the city, which makes amenities the ultimate source of success for projects like The Seaport and along the Long Island City and Brooklyn Heights waterfronts.
Among the challenges waterfront developers are working to address are preparing for inclement weather, implementing top notch contingency plans to prevent flooding, and accommodating the changing process of commuting with the growth of ride sharing, community bikes, the ferry expansion, and more. The occupancy of garages, once considered a major benefit to tenants, is decreasing and developers are looking for ways to adapt.
The waterfront market is also ripe for affordable housing. Ultimately, these waterfront developers feel that these areas have been transformed by streetscape, landscape, and people; and as the neighborhood grows, you grow.
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