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Why TODs may be attractive to homebuyers

Manhattan is attractive for residents of many ages because of its proximity to things that draw people; mainly restaurants, entertainment venues and places of employment. But what really makes the city special is the ability to shop, have a good meal and see unique events in one general area; mainly because getting around the city can be a problem from time to time.

Developers and retailers recognize the opportunity to create unique customer experiences, so it is not surprising that more transit oriented development hubs (TODs) are being planned throughout the city. According to a retail report produced by CBRE, more retail brands are targeting TODs for expansion of their retail presences. 

A prime example of this is the Oculus, a $4.4 billion transit hub at the World Trade Center. The center recently opened to the public in early April, and is largely unfinished. But once it is fully realized, it will be a core hub for Lower Manhattan, as it will have restaurants, consumer goods outlets, household services and professional services all in one convenient venue.

This is important for businesses seeking prime locations, as well as people who are looking for places to live. After all, who doesn’t like the idea of going to one venue (especially off of the train) to address a number of needs. So as you conduct your home buying search in Manhattan, be wary of all of your options for amenities and proximity to work and to event and entertainment venues.

The preceding is not considered legal advice.

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