You know Bedford Avenue–it’s the heart of successful retailing in Williamsburg. If you follow it south across Flushing Avenue, you are suddenly in Bedford-Stuyvesant, where more and more people are recognizing the potential in Bedford Avenue South. (View Bedford Avenue South in Google Maps.)
Too many shoppers, not enough stores
After all, the levels of unmet demand here are tremendous. Our trade area is a one-mile ring centered on Bedford and Monroe Avenues with a population of 176,000. Every year they spend $1.5 billion on retail goods and services. More than half of those dollars—$883 million—is spent outside of our district. We have some great new restaurants and stores (see list below), but we simply don’t have enough to capture the demand!
There is a particular need for more businesses in these categories:
• General merchandise: $147.7 million of unmet demand in a one-mile radius
• Grocery: $116.7 million unmet demand
• Clothing: $54.1 million unmet demand
• Health & Beauty: $49.6 million unmet demand
• Limited-service restaurants: $39.7 million unmet demand
• Full-service restaurants: $36.4 million unmet demand
Strong traffic counts
The residential population is only part of the story. More than 1,000 people work in the neighborhood, and 6,000 college students attend class here. Plus, more than 110,000 riders take the bus down Bedford Avenue daily, and another 23,000 use our two nearby subway stations. Nearly 20,000 vehicles drive on Bedford Avenue every day. As more stores and restaurants open on Bedford, foot traffic is steadily increasing as well.
We want to help you open on Bedford Avenue South
At Bridge Street Development Corporation, our goal is to help you become a part of our expanding business district. We have done a lot of your research for you. An analysis of the marketplace identified specific types of stores that are missing from the trade area. From housewares and clothing stores to delis and great restaurants, we know what we need, and we know what our local economy can support. We’ve even compiled all our market data so you can review it and decide for yourself if this is the right location for your business.
Get here before the opportunity passes
If you are thinking about adding a new store or restaurant, Bedford Avenue South is a great place to be. Take advantage of our still-low commercial rents, and grab your share of our $883 million in unmet demand.
Check out some of the great businesses that have already located on Bedford Avenue!