Commercial

New Rochelle Wins $10M Downtown Revitalization Grant

October 2018

NEW ROCHELLE— Gov. Andrew Cuomo announced Sept. 27 that New Rochelle's Lincoln Avenue Corridor will receive $10 million in funding as the Mid-Hudson region’s winner of the third round of the state’s Downtown Revitalization Initiative competition. "New Rochelle's Lincoln Avenue Corridor is an area ripe with potential to appeal to a new generation of residents,…

Read More

HVEDC Announces New Partnership With Westchester County Association

October 2018

GOSHEN—The Hudson Valley Economic Development Corp. and the Westchester County Association announced on Oct. 8 the launch of what they term as a “strategic partnership to grow specific industry sectors such as healthcare and real estate, expand on each other’s workforce development initiatives and close the digital divide through programs that promote gigabit-speed broadband connectivity.”…

Read More

NYC Developer Says Westchester Performing Better than Fairfield

October 2018

WHITE PLAINS—Peter Duncan, president and CEO of New York City-development firm George Comfort & Sons, told more than 80 attendees of the Hudson Gateway Association of Realtors Commercial Investment Division, that the firm is bullish on Westchester and is seeking to redevelop a number of properties in the county. The firm, recently acquired the former…

Read More

Gov. Cuomo Announces $13 Billion JFK Improvement Plan

October 2018

NEW YORK—Gov. Andrew Cuomo announced on Thursday the latest plan for a major expansion and improvements at John F. Kennedy International Airport, which is now projected to cost $13 billion. The governor announced the plan on Oct. 4 at the Association for a Better New York breakfast. The governor states that $12 billion of the…

Read More

Controversial CPV Valley Plant in Orange County Goes Online

October 2018

WAWAYANDA, NY—The controversial 680-megawatt CPV Valley Energy Center, owned by Competitive Power Ventures, is now operational. Competitive Power Ventures announced on Oct. 1 that the $900-million natural gas plant achieved commercial operation and was supplying enough electricity to power more than 600,000 average homes. The power plant, built by a joint venture of Skanska USA…

Read More

$203M AT&T Building Redevelopment Moving Forward

September 2018

WHITE PLAINS—The more than $200-million plan by New York City developer Rose Associates to redevelop what has been considered for years an eyesore—the AT&T building in Downtown White Plains—into a mixed-use project that would feature 468 rental apartment units cleared a major hurdle, but with one caveat. The Westchester County Industrial Development Agency granted a…

Read More

HVEDC Forms Strategic Research Partnership with Pattern for Progress

September 2018

GOSHEN—The Hudson Valley Economic Development Corp. and Hudson Valley Pattern for Progress announced on Sept. 25 they had formed a strategic partnership. Goshen-based HVEDC is the Hudson Valley’s leading economic development agency and Pattern for Progress, based in Newburgh, is the Hudson Valley’s primary public policy and think tank organization. Pattern for Progress is a…

Read More

KZA Realty Group and RM Friedland Form Affiliation

September 2018

BRONX—Two commercial real estate firms in The Bronx have announced a new affiliation agreement that they say will bring unprecedented expertise and client service benefits to property and business owners. Commercial real estate brokerage firms KZA Realty Group and RM Friedland will join forces on select assignments to add value for clients. The alliance combines…

Read More

Westchester County Put on ‘Significant Fiscal Stress’ List

September 2018

ALBANY—Westchester County was among four counties statewide to be characterized as under “significant fiscal stress” according to a report released by New York State Comptroller Thomas DiNapoli on Tuesday. The State Comptroller’s Annual Fiscal Stress Monitoring System report designated 25 municipalities statewide as being fiscally stressed. Also making the significant fiscal stress list were Nassau…

Read More

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,…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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.…

Read More

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,…

Read More

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…

Read More

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…

Read More

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 St. in Downtown Ossining, the planned building would replace operations currently housed at two 120-year-old buildings OCC owns…

Read More

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…

Read More