Business Diversity Strategy for Central Greenwich Village

Client
Central Village Block Association
Faculty
David Margalit and Mark Newhouse
Team
Ben Hayden, Scott Khamphounvong, Angela Sung

Over the past decade there has been a significant change in the retail composition of the central part of Greenwich Village. Many of the mom-and-pop shops that once served the needs of local residents have been driven out of business. The Central Village Block Association (CVBA) supports a diversity of businesses as well as a diversity of clientele visiting businesses in the Village. This study presents a plan that is intended to increase business diversity and enhance the quality of life for its residents. The Capstone team’s business strategy includes: a market research report consisting of a demographic study, land use assessment and comparable analysis of neighborhoods similar to the CVBA’s; a business improvement plan centered on the marketing of Central Greenwich Village; and an organizational action plan to expedite and maximize efficiency of achieving its goals.