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Tryon Development Area - Market Demand

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Introduction

The 2017 Fulton County Housing Strategy prepared by Asterhill Community Planning and Development, an independent professional expert, calculated the demand for housing among current residents countywide and in eight sub-markets. The projected demand can be met through small projects in many places and/or in larger mixed-use neighborhoods in the Hales Mills, Vail Mills and Tryon Development Areas.

County Demand for New Housing

Today

Based on the Fulton County Housing Strategy, just over 570 Fulton County households, including nearly 1,400 people, have a current demand for up to 345 new owner-occupied housing units and 220 new renteroccupied units.

2025

By 2025, total housing demand as a result of potential population increase could support 535 owner occupied and 400 renter-occupied units.

Key factors supporting the demand for new housing in Fulton County

  • Price escalation in surrounding counties, especially Saratoga, is drawing potential homeowners seeking new and higher end homes to Fulton County.

  • The County’s high homeowner rate, affordable land and stable property values.

  •  Currently there are no mixed-use developments desired by both millennials and empty nesters.

  • There is a growing demand from the existing base of 3,450 seasonal households and new second homeowners seeking vacation retreats.

  • Few apartments are located outside of the Cities of Gloversville and Johnstown.

Tryon Development Area Demand for New Housing

Today

Based on the Fulton County Housing Strategy and the Concept Plan for the Development Area, there is immediate need for 20 owner-occupied units and 12 senior renter-occupied housing units at Tryon.

2025

By 2025, total housing demand as a result of offering this executive neighborhood with convenience retail and services could support an additional 25 owner occupied and 22 renter-occupied townhome units.

Key factors supporting demand for new housing at the Tryon Development Area

  • Lack of professional and executive level new for sale housing in Fulton County.

  • Unmet market demand among empty nesters and families with older children and highly mobile seniors.

  • Lack of housing products to meet demand for townhomes, senior patio homes and single family homes.