By David Morrow – Vice President, NY Operations & Phil Dinan – Director of Business Development, NY
Callahan has maintained a presence in White Plains, NY for several years, following a successful expansion to the market from its original headquarters in Massachusetts. Sensing that a larger geographic footprint would benefit both its employees and the clients they work with, Callahan has steadily grown its operations in southern New York.
Coupled with significant opportunities within a tight geographic area, Callahan is exceedingly optimistic about the potential of the greater New York market, especially with the recent announcement of its first undertaking the 5 boroughs – the start of construction at the Bay Terrace Shopping Center in Queens.
Within this relatively small footprint, Callahan is tracking a wide range of project types, from urban infill and transit-oriented developments to suburban repositioning plays and large-scale mixed-use proposals. That creates a consistent pipeline across different asset classes and market cycles.
But it’s one thing to have opportunity; you also need tight coordination with local leaders. Fortunately, Callahan has experienced strong alignment between municipalities, developers, and capital. Town leaders are proactive about encouraging smart growth near transit and within their downtown corridors, which gives projects a clearer path forward and meaningful community impact.
The projects that are getting traction also align well with Callahan’s strengths. Multifamily is the obvious leader, but other pockets of activity like market-rate, workforce housing, and affordable or mixed-income products, often paired with retail or community space, have also shown growing strength in the market. In addition, more developers are choosing to commit to a more comprehensive approach to re-development of mixed-use spaces as opposed to piecemeal projects, which also creates meaningful opportunity for a company of Callahan’s size.
And don’t forget that as more older adults choose to remain close to family and friends as they age, senior housing communities will continue to be in demand, often with high levels of amenities, and many developers are choosing to get into this active space. This includes not only senior care and assisted living, but also communities reserved for those active adults 55 and older.
Outside of White Plains and the immediate New York metro area, Callahan is tracking opportunities in places like New Rochelle, Port Chester, and Jersey City, where sensible, smart-growth developments are in the works, often paired with a transit-oriented component. As we continue to build relationships with city leaders and developers in those markets, we’re excited for more opportunities across the region.
The shift towards smart, thoughtful growth from municipalities throughout the Tri-State area is key to this deep pool of project potential. There’s a clear focus on density in the right locations, activation of downtown areas, and improving overall livability. From a construction standpoint, that often comes with added complexity, tighter sites, and more coordination with existing infrastructure, but that’s where a team like ours shines.
When municipalities, developers, and builders are aligned early in the process, it typically leads to better outcomes, and we’re encouraged by the amount of collaboration happening across the region.
For more information on Callahan’s market rate project portfolio, click here.
Callahan is committed to building strong, long-lasting client relationships, and to consistently delivering solutions that exceed expectations. Contact us today about starting your next project.