New York town calls on big data to find retailers for $4 billion project

Officials in New Rochelle, New York, want the right kind of retail partners for an aggressive redevelopment of its downtown, and it’s counting on big data to ferret them out.



The town has engaged Fort Worth-based Buxton to employ its Scout real estate analytics platform to identify restaurants and stores that will best synch with the dining and shopping habits of its residents.



“We are pleased to partner with Buxton, who will bring the wealth of their national experience to grow our retail and restaurant sector in New Rochelle,” said New Rochelle City Manager Charles B. Strome, III, who expects his town to see more than $4 billion worth of new development projects.



One million sq. ft. of the town’s 12 million-sq. ft. master development plan is to be devoted to retail. The plan also calls for up to 2.4 million sq. ft. of office space, 6,370 housing units, and 1,200 hotel rooms. The developer is RDRXR, a joint venture of Renaissance Downtowns and RXR Realty.



To accommodate the large-scale project, 279 acres of land downtown and surrounding the New Rochelle train station had to be rezoned.

Connect with me on LinkedIn | Follow me on Twitter