Real Estate Consulting

New Canaan Commercial Market Study

New Canaan, Connecticut

BFJ in collaboration with Urbanomics prepared a commercial market study of New Canaan’s downtown, evaluating the market feasibility of future development. Methodology included assessing the existing supply of commercial uses, quantifying the demand for new uses and evaluating market impacts of recent Town initiatives including changes to parking capacity, proposed zoning changes, the potential for more in-town housing and possible marketing initiatives with Metro-North Railroad. The analysis identified unmet local demand by retail type and examined spatial requirements and appropriateness under zoning restraints and resident preferences. The resulting recommendations included specific retail types to be pursued and an organizational structure to implement strategies to attract more shoppers to downtown New Canaan.

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Comprehensive land use survey