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From $200 Million Redevelopment Project Faces Zoning Hurdles in Hicksville

How could the redevelopment of the former Broadway Mall affect Costco?

Possible What happens if… A possibility worth considering, not a forecast.

New Hicksville retail hub may increase competitive pressure on Costco The $200 million redevelopment of the former Broadway Mall in Hicksville is transforming the site into Broadway Commons, a 1.3 million square foot open-air shopping center. This project includes a second-level expansion for IKEA and the creation of a new BJ's Wholesale and fueling station. As a major new retail presence is established in the area, it could intensify competition for consumers and market share within the Hicksville community, where Costco has previously been evaluated for expansion.

Reported by 1 independent outlet Written Oct 14
Effect
Mild negative
How direct
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When
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How it reaches Costco

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The facts so far

As reported. Each one links to where it comes from.

  • The redevelopment is valued at $200 million and will create a 1.3 million square foot open-air shopping center.newsday.com
  • The project includes a planned 90,000-square-foot second-level IKEA expansion.newsday.com
  • The new proposal includes the creation of a new BJ's Wholesale and a fueling station.newsday.com
  • The mall currently has 4,848 parking spots, but the new proposal includes 4,092 spaces.newsday.com

Why it matters

The redevelopment represents a significant effort to revitalize the former Broadway Mall, which has struggled with vacancy since Macy's closed in 2020 and Old Navy left in 2023. For Costco, the local market dynamics are critical; the introduction of a major new retail anchor like IKEA, alongside BJ's Wholesale, changes the competitive landscape in Hicksville.

This project is part of a larger effort by Oyster Bay to revitalize the area surrounding Hicksville's Long Island Rail Road station. The success of this redevelopment could signal a major shift in local consumer spending patterns, directly impacting the market position of all major retailers operating in the area.

What we don't know yet

  • Will the zoning board of appeals approve the five key variances needed for the project to move forward?
  • How will the new retail mix affect local traffic and parking availability?

What would change this answer

The zoning board denies the request to lower parking requirements or the second-level expansion varianceThe scope of the new retail center would be significantly reduced, lessening the competitive impact on Costco.
Costco announces a new expansion or store opening in the Hicksville areaThe competitive pressure would become immediate and stronger, potentially leading to a more substantial market shift.

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The full event$200 Million Redevelopment Project Faces Zoning Hurdles in Hicksville Everything aboutCostco

Brind's analysis is written by AI from the reporting linked above and can be wrong. This explainer is a possibility worth considering, not a forecast: steps marked as Brind's reasoning are not stated in the reporting. It is not investment advice; do your own research.