Infinite Horizons, LLC’s target market for the Reinvestment and Management Plan will be in Community Board 12 because of the many zip codes identified with having the most foreclosures in the City. This is significant because Community Board 12 is one of the fastest growing boards in population of all the 59 Community Boards. The total population for Community Board 12 is 223,602. It is the second largest Board in the borough of Queens and takes up a large portion of the southeastern corner of the borough. (Community District Needs for the Borough of Queens 2009). The district has become a more culturally and ethnically diverse community. Infinite Horizons, LLC has an advantage over other real estate development companies because of its understanding of these culturally diverse aspects in the market, which enable the company to develop marketing tools to target these populations as purchasers.
Community Board 12’s household incomes range from poor to upper middle class. The average household income for the largest geographic zip code (11432), is $56,819. Community Board 12 has various affordable housing projects currently underway targeted for low- to moderate-income households. Some of these projects include Guy R. Brewer North and South Road/Sutphin Boulevard (Community District Needs for the Borough of Queens 2009). Infinite Horizons, LLC is aware of the impact foreclosure can have on the development of affordable housing.
The Reinvestment and Management Plan would target this population for our foreclosed housing. Infinite Horizons, LLC has identified this market and would create a marketing plan targeting low- to moderate-income households. African American, Asian or Pacific Islander Nonhispanic, and Hispanic origins make up the largest population tracks, accounting for over 80% of the population of Community Board 12. They are also the largest populations in the category of people age 18 years and older. Infinite Horizons, LLC will develop a strategic marketing plan to target women-headed and married coupled households.Women-headed households account for 28% of total households in Community Board 12, with married coupled households making up for 38%. These groups would be targeted for sales because of their potential need for housing. They would also have the greatest potential to generate sales.
In Community Board 12, 39% of the population is between the age of 25 and 44, while 37% of the population is between 45 and 64. These populations will also be targeted during the marketing of the homes. These groups make up the significant majority of individuals interested in purchasing a property while qualifying as first time home buyers.