News

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…

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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…

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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…

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New Multifamily Project in New Rochelle Breaks Ground

October 2018

NEW ROCHELLE—YoungCraft, a locally-based real estate development company, held a groundbreaking ceremony on Oct. 3 at the future site of The Rockwell, a more than 160,000-square-foot mixed-use development at 583 North Ave. here. Robert Young and Phil Craft, principals of YoungCraft, were joined at the project site by New Rochelle Mayor Noam Bramson, City Manager…

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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…

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Historic Rehabilitation of Newburgh’s East End Apartments Completed

September 2018

NEWBURGH—New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas announced Sept. 25 the opening of a $15-million scattered-site project that renovated 15 abandoned properties to create 45 new affordable apartments in a four-block area of Newburgh’s East End. Called East End Apartments, state and city officials say the development is helping to revitalize the…

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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…

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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…

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LEGOLAND New York Previews Eight ‘Lands’

September 2018

GOSHEN—More than 100 people attended a major preview event on Aug. 16 hosted by Merlin Entertainments of the eight themed “lands” that will make up its LEGOLAND New York Resort in Goshen. Thousands of Lego bricks cascaded down resembling a waterfall revealing a 10-foot LEGO model of the entire theme park. The model is made…

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Northeast Existing-Home Sales Increased in August; Mixed Results in Other Regions

September 2018

WASHINGTON—Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors. Sales gains in the Northeast and Midwest canceled out downturns in the South and West. A bright spot for the residential markets was in the Northeast, which saw its August existing-home sales rise 7.6% to an…

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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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Orange County’s Future Tied to Route 17 Investments

September 2018

GOSHEN—The lifeline of Orange County and points further north has for some time been Route 17 as tourists and shoppers flock to such popular destinations as West Point and Woodbury Common Premium Outlets to name just a few. With construction of the $500-million Legoland New York project in Goshen now underway with an opening planned…

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At Home in Pine Bush

September 2018

Pine Bush is a quiet, little hamlet located in the Town of Crawford in Orange County. It’s adjacent to the Town of Shawangunk in Ulster County, with the Shawangunk Kill, a small river, marking the boundary. New York State Routes 52 and 302 intersect the hamlet. Area: 2.11 Square Miles Population: 1,701 Median Home Price:…

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Hotel Construction on the Rise in Orange County

September 2018

GOSHEN—The amount of new hotel construction of late in Orange County has been staggering with new projects either opened or in the development pipeline mainly at two key corridors—Route 17 and I-84 adjacent to the recently renamed New York Stewart International Airport in New Windsor. According to statistics recently provided by the Orange County Partnership,…

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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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HGAR, LIBOR Boards Sign Key Agreement To Create New Regional MLS Next Year

September 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors and the Long Island Board of Realtors have announced that their efforts to create a consolidated new regional Multiple Listing Service that would benefit approximately 40,000 subscribers had cleared a significant milestone. The two largest Realtor associations in New York State reported that their respective Boards of Directors…

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Orange County Housing Market Showing No Sign of Slowing Down

September 2018

As the summer of 2018 comes to an end, the real estate market in Orange County is not showing any signs of slowing down. After the highs Orange County experienced in 2008, when the median sales price (half above and half below) for all homes was $300,000, we saw prices decrease for about eight years,…

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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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HGAR Membership Coordinator Karen Maloney Retires

September 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors extends well wishes to Karen Maloney, Membership Coordinator at its White Plains office, who has retired after spending 15 years with the association. Maloney worked with HGAR in White Plains for the past seven years, and with the former Putnam County Association of Realtors in Brewster for eight…

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