Commercial

NYCEDC Issues Request for Proposals for Kingsbridge Armory Redevelopment Project

September 26, 2023

NEW YORK—New York City Economic Development Corporation released a Request for Proposals (RFP) on Sept. 25 for a developer to lease, redevelop, and operate the Kingsbridge Armory, one of the largest armory buildings in the world and a landmarked structure that contains approximately 570,000 square feet of space. The RFP follows the release of the…

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Woodbury Common Submits Plans for $250-Million Expansion

September 21, 2023

CENTRAL VALLEY—Experts that contend brick and mortar retail is dead, apparently have not heard of Woodbury Common Premium Outlets in Orange County. Owner Simon Property Group announced today it has officially presented plans for another expansion of the property located at the intersection of I-87 and Route 17. The latest expansion plan is valued at…

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GUEST VIEWPOINT: Site Inventory Program Arms Orange County with Key Facts to Accommodate New Projects

September 20, 2023

Executing sector specific economic development strategy is not an overnight process—it takes research, relationships, and an in-depth understanding of the market. When an economic development organization gets an opportunity to compete for a major project in Advanced Manufacturing, speed and accuracy are everything. That’s why we rolled out the Site Inventory Program (S.I.P.)—to give us…

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Companies Can Tap into the Benefits Of Orange County’s Foreign Trade Zone

September 20, 2023

GOSHEN—Orange County operates US Foreign Trade Zone #37. The Foreign Trade Zone was established by the federal government in May of 1978. It was intended to provide an economic boost to the greater Newburgh/New Windsor area that endured a significant blow when Stewart Air Force Base closed in 1971. Presently, the Orange County-Foreign Trade Zone…

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Orange County Eco. Summit Focuses on Growing Tourism, Hospitality & Film Production Sectors

September 20, 2023

MIDDLETOWN—More than 300 people attended the second annual Orange County Economic Summit on Friday, Sept. 15 which focused on the county’s high-growth tourism, hospitality and film production industries. The program, held at Orange Hall at the SUNY Orange campus in Middletown, featured presentations and panel discussions by a host of political and economic development leaders,…

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Construction to Begin This Fall on $350-Million Movie Studio at Pier 94 on Manhattan’s West Side

August 30, 2023

NEW YORK—The developers of the long-anticipated movie/television studio project at Pier 94 on Manhattan’s West Side say that construction is expected to begin this fall on the $350-million, public-private partnership venture. On Aug. 29, Vornado Realty Trust, Hudson Pacific Properties, Blackstone, the City of New York, and the New York City Economic Development Corporation announced…

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Westchester Medical Center’s New Patient Care Tower Secures $195M in Bond Financing from Westchester LDC

August 25, 2023

WHITE PLAINS—The Westchester County’s Local Development Corporation voted on Aug. 23 final approval of $195-million in tax-exempt bond financing for the development of a new 162,626-square-foot Patient Care Tower on the campus of Westchester Medical Center in Valhalla. The $221.3-million Patient Care Tower project will feature a five-story, 128-bed structure with all of its inpatient…

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Adaptive Reuse of Vacant Manufacturing Facility Secures $3.4 Million in Westchester IDA Incentives

August 22, 2023

WHITE PLAINS—The Westchester County Industrial Development Agency voted at its July 27th monthly meeting final approval of financial incentives for Modera White Plains, an $89.2 million adaptive reuse of a vacant light manufacturing facility into a 189-unit multifamily rental building. Located at 39 Westmoreland Ave., Modera White Plains will feature a mix of 66 studios,…

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Report: Commercial, Multifamily Starts in NYC Down 31%

August 22, 2023

HAMILTON, NJ—Recently released new data from Dodge Construction Network found that the value of commercial and multifamily construction starts across the top 10 metropolitan areas of the U.S. fell 10% in the first half of 2023, relative to that of 2022. Nationally, commercial and multifamily construction starts fell 14% on a year-to-date basis through June.…

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Diversity Dimensions in Commercial Real Estate

August 21, 2023

The Hudson Gateway Association of Realtors as part of its Women in Commercial Real Estate workshop series held a program entitled “Diversity Dimensions in Commercial Real Estate” on July 27 at the HGAR offices in White Plains. The program was hosted by Teresa Belmore, CREC, Creator/Chair of the Women in CRE Series.

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New State Capital to Relocate Headquarters to New Rochelle

August 21, 2023

NEW ROCHELLE—Houlihan Lawrence Commercial, a division of Houlihan Lawrence, announced on Aug. 21 it had brokered a 12,600-square-foot office lease with New State Capital Partners at 270 North Ave. in New Rochelle. The tenant, New State Capital Partners, a private investment firm, is relocating its corporate headquarters from 2001 Palmer Ave. in Larchmont to New…

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Pfizer Division Renews, Expands Lease at Hudson Valley iCampus

August 17, 2023

PEARL RIVER—A division of pharmaceutical firm Pfizer Inc. has signed a lease renewal and expansion totaling more than 151,000 square feet of space at the Hudson Valley iCampus here. The deal announced by the ownership of the Hudson Valley iCampus involves PGS (Pfizer Global Supply) Division, which has expanded and renewed space at the property…

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Broad-Based Housing and Lending Coalition Warns FHFA Against Rent Control, Rent Stabilization Policies

August 11, 2023

WASHINGTON—A broad-based coalition of 18 associations representing housing providers, lenders and residents sent a letter on Thursday, Aug. 10 to Federal Housing Finance Agency Director Sandra Thompson warning that mandatory rent control and rent stabilization policies will increase rents, reduce the capital needed to boost the supply of housing, and ultimately hurt current and future…

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First Metro-North TOD Project Opens in Harrison

August 8, 2023

HARRISON—New York Gov. Kathy Hochul was joined by leaders from the Metropolitan Transportation Authority and officials from residential development firm AvalonBay Communities on Aug. 7 in announcing the completion of Avalon Harrison, a transit-oriented development located at the Harrison Metro-North Railroad station built with support from the MTA. “My administration is continuing to do everything…

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Tesla’s Major Lease Deal in Newburgh is Official

August 7, 2023

NEWBURGH—Matrix Development Group confirmed published reports on Aug. 3 that it recently signed a 927,000-square-foot lease with global automobile manufacturing firm Tesla at its Matrix Logistics Center, a two-building industrial complex at 1396 Route 300 in Newburgh. Tesla will use the property as a distribution facility for automotive parts commencing in October. In selecting Matrix…

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New York State Issues RFP for Purchase and Redevelopment of Downstate Correctional Facility

July 26, 2023

ALBANY—Gov. Kathy Hochul announced recently that Empire State Development, in partnership with the Office of General Services and Department of Corrections and Community Supervision, has issued a Request for Proposals for the former Downstate Correctional Facility located in Fishkill, Dutchess County. The Request for Proposals advances recommendations made by the Prison Redevelopment Commission and builds…

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