News

Major Resort Developments to Provide Significant Economic Boost to Region

August 2016

Tourism has always been a staple of the Hudson Valley economy. However, two major resort projects are expected to be game-changers for not only the tourism and lodging sectors, but for the regional economy as a whole. The Hudson Valley, already a major tourist destination, could soon become home to two major resort destinations. At…

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Health Care, Education Sectors Creating Thousands of New Jobs

August 2016

The health care and education sectors have been key drivers of new jobs in the Hudson Valley region the past few years and all indications are that they will continue to fuel economic growth in the years to come. The health care industry, particularly, has been especially active with major investments and partnerships undertaken recently…

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Hudson Valley Seeing Strong Sales Activity Throughout Region

August 2016

As reported in HGAR’s 2016 second quarter residential real estate sales report, the Hudson Valley continues to experience increased sales volume. This long awaited market condition has produced a five-year high of second quarter sales reaching an overall 23% increase in closings over the same period in 2015. Putnam County, at 32%, had the largest…

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Opposition Mounts to Coast Guard Hudson River Barge Plan

August 2016

RYE BROOK– The Business Council of Westchester became the latest organization to decry a U.S. Coast Guard proposal to locate new anchorages for commercial vessels along the Hudson River. The U.S. Coast Guard is considering the adoption of a new rule that would establish new anchorage grounds for commercial vessels along the Hudson River at…

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PRESIDENT’S CORNER: Visible Benefits

August 2016

In speaking with many of our members over the years, I have always been perturbed by the fact that many of us forget or are unaware that HGAR offers more tools to its members than simply our Multiple Listing Service. Don’t misunderstand me, our MLS is vital and often central to our ability as real…

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Kiryas Joel Looks to Form Town of North Monroe

August 2016

KIRYAS JOEL—Representatives of the Village of Kiryas Joel announced a plan earlier this week to begin a petition drive that would seek to have the Orange County Legislature approve the formation of the new Town of North Monroe, which would consist of the existing Kiryas Joel community and reportedly an additional 382 acres outside of…

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Orange County Trust Changes Name Promises Further Growth in Region

August 2016

MIDDLETOWN—Orange County Trust Company announced recently it changed its name to Orange Bank & Trust Company. With the new name change and signage comes word from bank officials that the bank plans to continue to grow its operations in the region. The name change supports the bank’s strategic plan to remain independent, position itself for…

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Debunking the Myth that Millennials Hate the Suburbs

August 2016

WHITE PLAINS—The popular lore for some time among many real estate professionals and most media pundits is that Millennials are shunning the suburbs and instead are flocking to major cities in search of collaborative office space and rental housing in a “24-7 live-work environment.” A report appropriately entitled “Myth Buster: Young Americans Do Like The…

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PUTNAM POSTING: Preserving and Promoting Putnam County’s Small Business Base

August 2016

The Business Council of Westchester’s Third Quarter 2016 edition of 914INC. magazine has an editorial entitled “Big Ideas From Small Businesses” and a special feature saluting small business in Westchester County. 914INC. Executive Editor Amy Partridge spelled out the reasons for featuring these businesses, and stressed the importance of small businesses in our daily lives,…

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GATEWAY PERSPECTIVES: A Legacy to Remember

August 2016

First, a disclaimer, I am blatantly biased as I write this month’s article. I have been a huge fan of HGAR’s Legal Counsel Edward I. Sumber for more than three decades. In my opinion Ed has been one of the most effective and knowledgeable association legal counsels in the country, and he has earned the…

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Better Homes and Gardens Rand Realty Voted Top Real Estate Agency in the Hudson Valley

August 2016

NANUET—Better Homes and Gardens Rand Realty has announced it was awarded the Middletown Times Herald-Record’s Readers’ Choice Award for top real-estate agency in the Hudson Valley. “We’re honored to be given this recognition by one of the region’s top publications,” said Joseph Rand, managing partner of Better Homes and Gardens Rand Realty. “The Hudson Valley…

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Amato of A.S.A.P. Mortgage Wins ‘Best of Westchester’ Honor

August 2016

CORTLAND MANOR—Westchester Magazine readers have designated Irene Amato, president of A.S.A.P. Mortgage Corp. in Cortlandt Manor, as Westchester’s “Best Businesswoman” of 2016. This is a new category in the annual reader-adjudicated contest. More than 12,000 members of the Westchester community placed online votes for this year’s 224 categories, including food & drink, shopping, and professional…

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Embattled Ailes Withdraws Donation for Senior Center

August 2016

CARMEL—The senior center planned for the former Butterfield Hospital site in Cold Spring is likely shelved. After a contentious meeting of the Putnam County Legislature, embattled Fox News founder and Cold Spring resident Roger Ailes took back his planned $500,000 donation for the project. The Putnam County Legislature, after some debate, reportedly unanimously tabled a…

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LEGISLATIVE AFFAIRS: Victory for Realtors as Condo Legislation is Signed Into Law

August 2016

President Obama has signed Condo legislation that was approved by both houses of the Congress, into law. This is a big victory for Realtors as well as for future buyers as purchasing a condo is often a more affordable housing option. The new law mitigates current FHA regulations surrounding existing condominium projects, including streamlining project…

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NAR Says Consumers Win With Proposed ‘Know Before You Owe’ Rule Changes

August 2016

WASHINGTON— Since the October 2015 implementation of the Consumer Financial Protection Bureau's “Know Before You Owe” mortgage initiative, Realtors have raised red flags over challenges in gaining access to the mortgage "closing disclosure" form, or CD. The CD is delivered to homebuyers in advance of their closing and contains important financial information related to their…

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Condo Reform Bill Signed Into Law

August 2016

WASHINGTON—On Friday, July 29th, President Barrack Obama signed into law H.R. 3700, the "Housing Opportunity Through Modernization Act.” The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and was long supported by the National Association of Realtors. The U.S. Senate had approved the measure by unanimous consent on…

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Esplanade Owner Agrees to Pay More Than $528,000 to Displaced Seniors

July 2016

WHITE PLAINS—The ownership of the Esplanade Senior Residences of White Plains has agreed to pay more than $528,000 to 139 elderly residents who were allegedly forced from their homes to make way for the development of a luxury rental apartment development there. New York State Attorney General Eric T. Schneiderman announced the settlement agreement on…

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HGAR Cuts Ribbon on New Corporate Headquarters Offices

July 2016

WHITE PLAINS—The Hudson Gateway Association of Realtors, celebrating its 100th anniversary this year, opened its new offices in Downtown White Plains that the organization hopes will serve as its corporate headquarters for decades to come. On Monday, July 18th, chief officials with the Hudson Gateway Association of Realtors, including HGAR President Marcene Hedayati, HGMLS President…

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MacQuesten Companies Purchases Mount Vernon West Train Station

July 2016

MOUNT VERNON—In a deal the development firm says reaffirms and expands its investment in the economic revival of the City of Mount Vernon, the MacQuesten Companies reported recently it had purchased the Mount Vernon West station on Metro-North’s Harlem Line. While the station’s platforms are owned by Metro-North, the station building has been privately owned…

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MTA Chairman Pledges $29.5B Capital Plan Will Finally Bring System Into 21st Century

July 2016

RYE BROOK—Metropolitan Transportation Authority Chairman and CEO Thomas Prendergast admitted that the New York City mass transit system had fallen behind in terms of repairing and upgrading its infrastructure as well as implementing the latest technology to ensure the safety of its passengers. However, with a $29.5-billion five-year capital program now in place, the agency…

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