Services Included
Real Estate Market Analysis
Case Study Profiles
Competitive Positioning
Phasing Strategy
Project Description
Reimagining 24+Half in Paterson’s historic district as a vibrant mixed-use redevelopment blending residential and commercial potential.
MXD was retained by Blue Onyx Companies and worked alongside BL Companies on a Market Analysis and Positioning Strategy for an approximate 2-acre site in the Great Falls Historic District of Paterson, NJ. MXD assessed the feasibility of 24+Half as a potential residential and commercial reuse/redevelopment of existing industrial buildings at the site that date back to the late 19th century.
The first objective of the analysis was to assess the feasibility for residential and commercial development. The assessment considered a range of potential uses including multifamily residential, office, flex office, and retail. The second key objective was a highest & best use study of the site to prioritize the amount of each potential use at the development based on an objective assessment of the site, local competition, market trends, and other important factors. A recommendation of the most optimal uses was provided, along with the optimal positioning and target markets of each use.
