The Hudson Valley’s Growing and Evolving Regional Economy NEW WINDSOR—Real Estate In-Depth recently sat down with Laurence P. Gottlieb, president and CEO of the Hudson Valley Economic Development Corporation based in Goshen, to discuss the key strengths of the Hudson Valley region and how HVEDC is looking to grow the regional economy. The HVEDC is…
Read MoreHow many times per day are Realtors asked the simple question: “How’s the market,” and exactly what answer do we give to satisfy our local, inquiring minds? Is it a simple answer or does the answer depend on who’s asking the question or does it really vary from region to region? According to the National…
Read MoreWHITE PLAINS—Now that Westchester County successfully entered a public-private partnership to manage its Rye Playland amusement park, it is now proceeding toward a possible long-term agreement with a private operator to manage the Westchester County Airport. Three airport operator groups are now competing to take over operations at Westchester County Airport here in a controversial…
Read MoreWHITE PLAINS—The City of White Plains saw most of the major office leasing transactions in the second quarter, which paced overall activity in Westchester County, according to market reports released recently by a number of major commercial brokerage firms. Colliers International Group reports the City of White Plains followed a strong first-quarter performance with another…
Read MoreTARRYTOWN—The project that many thought would never be built is reaching a key milestone later this month. At a breakfast meeting of the Association for a Better New York in Manhattan on July 27th, Gov. Andrew Cuomo announced the first of two spans of what is now being called the new Governor Mario M. Cuomo…
Read MoreNEW ROCHELLE—As promised by RXR Realty’s Seth Pinsky at a recent meeting of the Hudson Gateway Association of Realtors’ Commercial Investment Division, RXR has announced it intends to develop a second major development project in Downtown New Rochelle. RXR Realty, which is building a high-rise mixed-use project at the former Loew’s Theater site in Downtown…
Read MoreNEW YORK—The impending closure of the Indian Point nuclear power plants in Buchanan and other market forces could pose significant risks to the future energy supply of New York City and the Lower Hudson Valley, a recently released report warns. The New York Building Congress released a report earlier this week entitled “Electricity Outlook: Powering…
Read MoreGOSHEN—The controversial $500-million LEGOLAND New York project secured a key approval on July 20th of its Final Environmental Impact Statement, a significant hurdle in its bid to win municipal approvals for the project so it can move forward later this year with construction of the theme park. Approximately 200 people packed the Orange County Emergency…
Read MoreWHITE PLAINS—A seven-year battle between Westchester County and the U.S. Department of Housing and Urban Development over terms of a controversial fair housing settlement appears to be finally winding down. On July 19th, Westchester County Executive Robert Astorino announced that HUD had accepted the county’s 11th submission of an Analysis of Impediments to Fair Housing…
Read MoreWHITE PLAINS—The majority of the four-county Hudson Gateway Multiple Listing Service territory continued to enjoy sales volume increases in the second quarter, however the falling levels of for-sale housing inventory have constricted the rate of sales growth in most markets. Realtors interviewed by Real Estate In-Depth said they are hopeful rising for-sale home prices in…
Read MoreWASHINGTON—The Consumer Financial Protection Bureau finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments released on July 7th that the bureau stated are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will facilitate implementation of the Know Before You Owe rule by the mortgage…
Read MoreWHITE PLAINS—The constricting supply of housing in the lower Hudson region served by the Hudson Gateway Multiple Listing Service, Inc. has brought about some long-expected price increases in most areas and in most property types, according to the “2017 Second Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York”…
Read MoreNEWBURGH—U.S. Rep. Sean Patrick Maloney (NY-18) joined local leaders on July 6th in front of one of the abandoned properties in the City of Newburgh to announce legislation to help homeless veterans and renovate "zombie" or abandoned properties. The “Housing Our Heroes Act” would create a pilot program within the Department of Veterans Affairs, which…
Read MoreWHITE PLAINS—After negotiating a deal that mandates creating a voluntary fingerprint program for drivers, Westchester County allowed ride-sharing services such as Lyft and Uber to launch operations there. Gov. Cuomo signed legislation that allowed Lyft and Uber and other ride sharing services to begin upstate and on Long Island on June 29th. The legislation did…
Read MoreNEW YORK—Federal, state and county officials praised the recent U.S. Coast Guard’s decision to suspend a proposed new rule expanding anchorages on the Hudson River. On Wednesday (June 28th) U.S. Coast Guard Rear Adm. Steven Poulin, Commander of the First Coast Guard District, reported that after reviewing more than 10,200 comments from stakeholders, the Coast…
Read MoreDOVER, NY—A massive energy project, which began its approval process nearly eight years ago, finally broke ground on Wednesday, June 28th on a 193-acre parcel of land on Route 22 here. Described as one of Dutchess County’s largest infrastructure projects in its history, Cricket Valley Energy, an affiliate of Advanced Power Services Inc. of Boston,…
Read MoreWASHINGTON—The National Association of Realtors Pending Home Sales Index fell for the third straight month in May, but Joseph Kirchner, Ph.D., chief economist for Realtor.com, says Realtors don’t need to press the panic button, at least not yet. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8% to 108.5 in…
Read MoreDOBBS FERRY, NY—Grocer Brooklyn Market is coming to Westchester County. The specialty retailer has filed for building permits and plans to open a new location at the new Rivertowns Square development off the Saw Mill River Parkway in Dobbs Ferry. The Williamsburg, Brooklyn-based retailer plans to open a new 18,000-square-foot store at the Rivertowns Square…
Read MoreWHITE PLAINS—Seth Pinsky, executive vice president with RXR Realty, which is building major multifamily projects in New Rochelle and Yonkers, believes that Westchester County is at a crossroads where it can either take advantage or miss out on the current investment climate. Pinsky, who was the guest speaker at the Hudson Gateway Association of Realtors’…
Read MoreWASHINGTON— Existing U.S. home sales rebounded in May following a notable 2.3% decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to a report released on June 21 by the…
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