Unlock the Potential of New Cassel’s Prospect Avenue

 
Prospect Avenue in New Cassel is a community-focused hub ready for growth. This area offers distinct opportunities for developers and investors, with clear community priorities for mixed-use spaces, essential services, and a walkable, family-friendly downtown.

About New Cassel

Located in the Town of North Hempstead, New Cassel is a culturally diverse, close-knit community with a rich history and a growing population. This community is ready for new investment that aligns with its vision for economic revitalization, community cohesion, and cultural preservation.

Investment Opportunities on Prospect Avenue

Prospect Avenue has been identified as a key corridor for redevelopment. Here’s how your project can make a meaningful impact:

  • Retail and Dining: With a high demand for culturally relevant dining and ethnic grocery options, Prospect Avenue is ideal for unique food establishments and retail shops catering to the local community.
  • Childcare and Medical Services: With one of the youngest populations in the region, New Cassel needs additional childcare and medical facilities. Projects meeting these needs can serve a high-demand market.
  • Mixed-Use Developments: A mixed-use model with retail on the ground floor and affordable housing above is encouraged. This approach fosters walkability and community vitality, creating a hub for residents and visitors alike.

Community and Market Demand Insights

The New Cassel Brownfield Opportunity Area (BOA) Market Analysis and Feasibility Study reveal strong local demand and regional potential for strategic development along Prospect Avenue:

  • Community Demand: New Cassel’s diverse community seeks culturally relevant businesses, particularly ethnic food markets, specialty grocery stores, and dining options that reflect its rich cultural heritage. There is also demand for services like childcare centers, medical offices, and fitness studios to meet the needs of this growing, family-oriented population.
  • Market Potential: The region surrounding New Cassel boasts a median disposable income approximately 20% higher than New Cassel itself, presenting a lucrative market for local businesses. Additionally, the area’s workforce participation is high, with many residents employed in essential sectors like healthcare, construction, and education. By developing businesses that meet these market demands, local establishments can attract both residents and visitors, supporting a robust and sustainable economic environment.
  • Retail Gaps: Market studies identified specific gaps within the retail landscape, including specialty clothing boutiques, toy stores, bookstores, and personal care services such as salons and fitness studios. Filling these gaps will support the local economy and encourage residents to shop within their community.
  • Visitor Appeal: New Cassel’s proximity to transit and surrounding areas with higher income levels positions it as a destination for visitors seeking unique dining and shopping experiences. New retail developments, particularly those offering diverse cuisines and goods that celebrate New Cassel’s cultural identity, could attract a steady flow of visitors and enhance local spending.

Prospect Avenue: A Hub of Community and Opportunity

Prospect Avenue is the heart of New Cassel’s redevelopment, linking community assets, institutions, and economic potential. This corridor is home to ten houses of worship and a community health center located at the intersection of Prospect and Union Avenues. On the eastern end, the Nassau BOCES Barry Tech School offers career-focused education, directly across from the Nassau County Public Safety campus, further contributing to the area’s vibrant character.

The avenue features two primary commercial hubs—one east and one west of Prospect and Union Avenues—and connects to the New Cassel Industrial Park. This industrial park, which houses diverse STEM, construction, and design businesses, complements New Cassel’s surrounding industrial areas, including Hicksville Industrial Park to the east.

With support from the Town of North Hempstead’s Community Development Agency, the redevelopment is part of the New Cassel Vision Plan, a community-centered framework established in 2002, updated in 2012, and reviewed in 2021. Supported by the NYS Department of State and the US EPA, the Vision Plan outlines specific goals for Prospect Avenue:

  • Economic Growth: Address market gaps and foster local spending by increasing the variety of goods and services.
  • Job Creation: Attract MBE and WBE businesses that offer long-term, stable jobs for residents.
  • Mixed-Use Development: Support projects that integrate residential, retail, and essential services.
  • Brownfield Redevelopment: Convert vacant or underutilized properties into productive assets.

Explore the potential of Prospect Avenue and help shape this vital community corridor into a thriving, walkable destination where residents and visitors can shop, dine, and connect.

Featured Opportunities
  • 740-746 Prospect Avenue (Sheridan Street)
  • 851 Prospect Avenue (Magnolia Avenue)
  • 887 Prospect Avenue (Swalm Street and Hopper Street)
  • 907 Prospect Avenue (Swalm Street and Rushmore Street)
  • 993 Prospect Avenue (Brooklyn Avenue)
  • 985 Prospect Avenue (Brooklyn Avenue and New York Avenue)

For more information, click here. 

Development Incentives
The key incentives that the CDA offers (for any size project):

1. CDBG loan funds for development or construction assistance.
2. The opportunity to co-apply for HOME funds (housing) from Nassau County Office of Community Development.
3. We may discount the land sale price based on a reuse appraisal when we issue an RFP for a specific use.
4. We petition the Town Board for a permit fee reduction to a cost of 35% of the regular cost for building department fees and highway department fees.
5. We have grants for commercial rehabilitation for up to $50,000.

Nassau County Industrial Development Agency provides (for projects $1 million +):

1. Tax-exempt bonds
2. Mortgage recording tax exemptions.
3. Sales tax exemptions on materials and construction costs.
See: https://nassauida.org/

Other Incentive Programs:
Community Development Agency

Town of North Hempstead Community Development Agency
51 Orchard Street
Roslyn Heights, NY 11577

(516) 869-2480

email at cdadepartment@northhempsteadny.gov

Additional Information

Town of North Hempstead

New Cassel, New York - Wikipedia