Healthcare real estate developer Joe Simone foresees an increase in non-downtown medical projects as providers relocate from urban office cores to serve their remotely working patients.
BRONX, N.Y. (PRWEB) JUNE 22, 2021
“Many commuters who formerly worked in urban cores patronized doctors and medical practices that were easily accessible from the office,” said Joseph Simone, President of Simone Development Companies, a leading developer of healthcare facilities. “However, the boom in remote working that started during the pandemic emptied urban office cores. Patients are now forced to find healthcare services close to home, which means the suburbs and other residential areas.”
In recent weeks, news reports nationwide have asked when or if office workers will return to central business districts. While the post-pandemic recovery is still incomplete, there is a growing consensus that many office workers will stay home. Additionally, a national exodus of residents in urban cores for more suburban locations has created housing-price spikes in rings around almost every major U.S. metropolis.
“We’ve just witnessed a great relocation of Americans and the healthcare sector hasn’t caught up yet,” said Simone. “This mass movement of people represents tremendous opportunities for agile health providers that can pivot from urban cores to the suburbs.”
A good example is Simone’s 644 West Putnam Avenue property in Greenwich, Connecticut., a commuter community in New York City’s northern suburbs. The mixed-use building offers 19,000 square feet of ground floor retail space and 20,000 square feet of second floor office/medical/retail space.
“People in the urban core are moving to communities like Greenwich, but they still want the specialty shopping and services of a dense urban environment,” Joseph Simone said.
About Simone Development Companies
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of office, retail, industrial and healthcare properties in the New York tristate area. Headquartered in the Bronx, the privately held company owns and manages more than 6 million square feet of property in the Bronx, Westchester County, Queens, Long Island, New Jersey and Connecticut. The company’s portfolio includes more than 100 properties and ranges from multibuilding office parks to retail and industrial space.
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