Thompson’s Crossing
Redevelopment Authority of the County of Fayette
Fayette County is a county in southwestern Pennsylvania.
Fourth Economy was engaged to assess the market conditions and feasibility of Thompson’s Crossing, a proposed development site of the Redevelopment Authority of the County of Fayette (RACF). Given RACF’s previous success developing the now nearly full 300 acre Fayette County Business Park, RACF, with partnership from Fayette County, entered into an agreement to purchase almost 60 acres of additional property in 2022.
Our Approach
Fourth Economy provided a feasibility and market analysis that defined the market conditions and prospects for site development as RACF pursues financial support from the PA SITES program. We considered potential site uses through market gap and comparative site analysis. In addition, we reviewed regional commuting, permitting, and land use trends to ensure recommendations are based in place.
The Results
Given the challenges identified in the market and feasibility analysis of office space, market demand, site proximity and access, Fourth Economy found that Thompson’s Crossing is best suited for a mixed-use development that incorporates elements of live, work, and play. Fourth Economy’s report provided quantitative support for this mixed-use model, identifying favorable and unfavorable factors.
Location
Fayette County, PA