Commercial

Plan Calls for Conversion of IBM Somers Campus to STEM School

September 2018

SOMERS—A plan was presented to the Somers Town Board on Thursday evening that if approved would involve the adaptive reuse of the 1.2-million-square-foot former and now vacant IBM campus here into a STEM high school geared at attracting top students from across the country. Evergreen Ridge, LLC of Stamford, CT, headed by principal Tim DiScipio,…

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Business Council Coalition Says Westchester Airport Future in Jeopardy

September 2018

RYE BROOK—Concerned that the future of Westchester County Airport is in jeopardy, the Business Council of Westchester has launched the Coalition for Westchester Airport, consisting of a broad range of businesses, labor organizations, educators, non-profits and residents in support of what they term as one of the county’s most valuable assets. The coalition has come…

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Investor Confidence Leads to Rise in Speculative Construction

September 2018

GOSHEN—As any real estate investor knows, speculative development has its inherent risks that a buyer/lessee be secured relatively quickly and at a price that will yield acceptable returns on investment. The significant economic development activity that has taken place in Orange County recently has led to vacancy rates in the low single-digits for prime industrial…

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Health Quest, Marist College to Build New Medical School

September 2018

POUGHKEEPSIE—Marist College and healthcare services provider Health Quest plan to build a $75-milllion medical school in in Dutchess County. A site for the new Marist Health Quest School of Medicine has not been finalized, but Marist and Health Quest state in their joint announcement on Sept. 12 that plans call for a building of approximately…

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Westchester’s Regeneron Pharmaceuticals Will Spend $800M to Expand Upstate

September 2018

ALBANY—Tarrytown-based Regeneron Pharmaceuticals Inc. is at it again, but this time in the Capital District. The state’s largest biotechnology company is planning to spend $800 million to expand its research and lab facilities upstate outside of Albany. The company’s capital plans were announced on Tuesday by Gov. Andrew Cuomo, who reported that the state’s Empire…

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Westchester County Association Rebrands As Economic Development Organization

September 2018

WHITE PLAINS—The Westchester County Association reported on Sept. 10 that it completed a years-long transition from a business membership organization to what it termed as Westchester’s most “powerful economic development entity.” To better reflect its policy and action-oriented identity, the Westchester County Association (unveiled its first major brand realignment since it was founded in 1950.…

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Second Span of New Mario Cuomo Bridge to Open Saturday

September 2018

TARRYTOWN—Long-suffering commuters will soon get the full benefits of the new Tappan Zee Bridge, now known as the Governor Mario M. Cuomo Bridge. In fact, the ride could get much better by this Saturday. Gov. Andrew Cuomo announced on Tuesday that the second span of the Governor Mario M. Cuomo Bridge will open this Saturday,…

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Yonkers IDA Approves Perks for Major Waterfront Project

September 2018

YONKERS—New York City developer Extell’s proposed $502-million mixed-use waterfront project here has received approximately $21.3 million in incentives from the Yonkers Industrial Development Agency. Yonkers IDA officials stated that the incentives granted to Extell is the largest package of incentives offered by the authority in its history. The Yonkers IDA conveyed the perks to Extell…

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Great Wolf Resorts in Talks to Build Water Park Resort in Orange County

August 2018

GOSHEN—Orange County Executive Steven Neuhaus has confirmed rumors that have been circulating for months that Great Wolf Resorts, Inc. is considering building a major indoor water park resort in southern Orange County. Neuhaus, in a prepared release on Aug. 29, stated that the Madison, WI-based hospitality firm is considering a “handful” of potential sites in…

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Ossining Children’s Center Looks to Develop New $17M Building

August 2018

OSSINING—The Ossining Children’s Center has unveiled a nearly $17-millon development plan that calls for the construction of a new 27,000-square-foot building that will enable the center to consolidate its programs under one roof. Located at 32 State Street in Downtown Ossining, the planned building would replace operations currently housed at two 120-year-old buildings OCC owns…

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FASNY Wins Key Court Case to End Seven-Year Review

August 2018

  WHITE PLAINS—A protracted regulatory and legal battle that has lasted more than seven years to redevelop the former Ridgeway Country Club in White Plains by the French American School of New York may be finally over. On Aug. 24, New York State Supreme Court Judge Joan Lefkowitz rejected two separate legal challenges filed by…

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County Looks to Create New Vision for Economic Development

August 2018

WHITE PLAINS—Officials with the Latimer Administration say they plan to be engaged with the business community and other stakeholders to pivot the county’s economic development efforts to the needs of both small and large businesses in Westchester. Since taking office in January, the county’s Office of Economic Development and its Industrial Development Agency and Local…

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Danone North America Presents a New Way to Work

August 2018

What if you could wake up each morning and decide where you want to work that day? Your selections include New York, Denver, Barcelona, Paris, Montreal or Amsterdam. Well, employees of Danone North America are able to make that choice every day—their new 80,000-square-foot headquarters at The Source at White Plains (1 Maple Ave.) is…

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Westchester County Holds First Incubator Summit

August 2018

VALHALLA—As part of it efforts to enhance county government support of small business, Westchester County staged its first “Incubator Summit” on Aug. 2 at Westchester Community College. The well-attended event featured presentations by county government officials, as well as approximately 40 representatives of the business, education and investment communities who discussed the merits of incubators…

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2975 Westchester Ave. Changes Hands

August 2018

PURCHASE—The 120,000-square-foot 2975 Westchester Ave. office building has been sold to a Greenwich, CT-based investment firm controlled by the Schur family. The transaction was reported by GHP Office Realty. GHP Vice President Jamie Schwartz represented the seller in the transaction. The Westchester County Business Journal reported the seller as an affiliate of RPW Group of…

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City of Newburgh Files Federal Suit Over Water Contamination

August 2018

NEWBURGH—The City of Newburgh filed suit on Aug. 6 in the United States District Court for the Southern District of New York seeking to halt on-going contamination of the city’s water supply by cancer causing per- and polyfluoralkyl substances (PFAS) originating at Stewart Air National Guard Base and Stewart International Airport, now operating as New…

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Iona College Breaks Ground on Business School Building

August 2018

NEW ROCHELLE—Iona College celebrated the official groundbreaking of its new business school building on July 27 with a ceremony that included alumnus and Board of Trustees member Robert V. LaPenta '67, '00H, officials from Iona College and the City of New Rochelle, and members of the local community. Remarks were delivered by LaPenta, Iona School…

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Three Hudson Valley Toys ‘R’ Us Stores to be Auctioned

August 2018

NEW YORK—Among a total of 123 Toys ‘R’ Us and Babies ‘R’ Us owned and leased stores slated for auction later this month are three store locations in the Hudson Valley. The shuttered locations on the block are in Nanuet, Poughkeepsie and Yonkers. The only other New York State location available at the auction is…

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New Owner of Reckson Exec. Park is George Comfort & Sons

August 2018

RYE BROOK—The mystery of who the new owner of the Reckson Executive Park here has been solved—it is New York City-based George Comfort & Sons, Inc. The suspense over the new ownership began last April when then owner SL Green Realty announced it had entered into a contract to sell the six-building, 563,596-square-foot office complex.…

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