A new Real Deal article takes a look at how the impending arrival of Ikea is going to affect real estate values in Red Hook and notes that some see the Swedish retailer’s opening as a possible indicator of things to come: Namely, more big-box stores. “A lot of owners right now are waiting to see what happens with Ikea,” says Landon McGaw, the Red Hook sales director for Massey Knakal Realty. “I think there’s tremendous opportunity in big-box retail that would make the neighborhood a weekend shopping mecca. Some smaller business owners, like the Good Fork’s Ben Schneider, believe that Ikea will bring more customers to their establishments and eventually lure more big-boxes. What that means for the future of possible residential conversions like 160 Imlay Street remains to be seen.
Ikea’s Design for Red Hook [The Real Deal] GMAP
Man on the Street: How’re You Feeling About IKEA? [Brownstoner]
Red Hook IKEA: Planning at its Worst? [Brownstoner]