Hales Mills Development Area Retail Demand
A Dynamic Neighborhood With Unmatched Quality of Life
Support for New Retail in Fulton County
Current County Retail Leakage Recapture Demand
Fulton County’s 2017 Retail Strategy was prepared by Asterhill Community Planning and Development and River Street Planning and Development. It identifies an immediate unmet demand for nearly $49 million in demand from leakage or the equivalent of up to 145,000 SF of retail in a range of categories including those shown in the table above.
Factors Supporting Current County Retail Leakage Recapture Demand
Recapturing Retail Leakage. The current unmet demand for retail is related to recapturing a share of retail sales that are leaking from the County based on total consumer spending in the region of $1.24 billion in 2014.
Meeting the Needs of Older Residents. Increasing percentage of baby boomers and active seniors support specific merchandise mixes that can drive new retail investment.
Rising Incomes in the Market Area. Between 2000 and 2015 there was a 200% increase in families with incomes over $100,000.
Current Hales Mills Retail Leakage Recapture Demand
The Retail Strategy identified demand for up to $18 million in retail sales or the equivalent of 65,000 SF of retail in the same categories as the County as a whole.
Factors Supporting Current Hales Mills Retail Leakage Recapture Demand
The Hales Mills Development Area is a hallmark project that offers an entirely new neighborhood whose mix of uses give it a unique place among Fulton County’s neighborhood options.
Healthy traffic counts with average daily traffic counts of over 2,500 on Hales Mill Road Extension and 6,300 on NYS Route 29.
Located just five minutes from downtown Johnstown and Gloversville, which have a combined population of nearly 24,000 people.
Close to existing retail destinations including a Walmart Supercenter within a quarter mile and Peebles and Price Chopper within one mile of
the Development Area.