Commercial

Gov. Hochul Calls for Environmental Study of Future Conversion of Route 17 to I-86

January 13, 2022

ALBANY—The prospect of major upgrades—including the construction of what business and government leaders say is a much-needed third lane on portions of Route 17 in Orange and Sullivan counties—just got a step closer. Although not included in her State of the State speech on Jan, 5, accompanying material given to state lawmakers included a directive…

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Great Point Studios Opens Lionsgate Studios; Announces $500M Expansion in Yonkers

January 12, 2022

YONKERS—Great Point Studios officially opened the doors to its long-awaited Lionsgate Studios Yonkers on Jan. 11 at 45 Wells Avenue and announced that it will move forward with a more than $500-million expansion plan nearby. The expansion project announced by Great Point Studios Founder and CEO Robert Halmi calls for a 1-million-square-foot facility that will…

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Rockland County-Based Birch Group Spends $212M on Long Island Office Complex

January 7, 2022

NANUET—The Birch Group, a locally-based privately-held commercial real estate investor, owner and operator, reported on Jan. 6 it had acquired a two-building portfolio from DRA Advisors and Onyx Equities in Jericho, NY for $212 million. The acquisition follows the company’s recent $255-million portfolio purchase in Short Hills, NJ. With this latest acquisition, The Birch Group…

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Westchester IDA, LDC Provided Incentives That Fueled $1.2B in Investment in 2021

January 6, 2022

WHITE PLAINS—The Westchester County Industrial Development Agency and the Westchester County Local Development Corporation as provided financial incentives and tax-exempt bond financing to major developments representing more than $1.2 billion in private investment in Westchester County’s economy last year. “As Westchester re-emerges from the economic downturn resulting from the pandemic, the IDA and LDC have…

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Hudson Valley Pattern for Progress Appoints Bosch as President, CEO

January 4, 2022

NEWBURGH—The Board of Directors at Hudson Valley Pattern for Progress announced today the appointment of Adam Bosch to be the organization’s next president and chief executive officer. Bosch, a lifelong resident of the Hudson Valley, worked as a journalist, college professor, and policy analyst across the region before joining the senior leadership team of the…

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Yonkers IDA Approves Incentives for $60M Lionsgate Studio’s Phase Two Expansion

January 3, 2022

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency (YIDA) voted final approval on Dec. 29 of financial incentives for the $60-million Phase 2 expansion of Lionsgate’s motion picture studio complex at iPark on the Yonkers waterfront. The expansion involves Buildings 3, 4 and 5 as well as the remaining surface lots and private…

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Town of Yorktown Adopts Overlay District Zoning In Yorktown Heights, Lake Osceola Biz Hamlets

December 30, 2021

YORKTOWN—The Yorktown Town Board voted on Dec. 29 to adopt overlay district zoning for two business hamlets. The creation of overlay districts in the Yorktown Heights and Lake Osceola business hamlets will encourage the creative redevelopment of functionally outdated properties, a greater flexibility of permitted land uses and visually harmonious streetscapes. The Town Board voted…

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Hudson Valley iCampus Retains Tri-State Team from Colliers as Exclusive Broker

December 28, 2021

PEARL RIVER—Hudson Valley iCampus, the former Pearl River complex of Pfizer, Inc., has retained commercial real estate brokerage firm Colliers as the exclusive leasing agent for the 2.0-million-square-foot, mixed-use, multi-tenanted campus. The 207-acre property is owned by Industrial Realty Group, LLC, a real estate development and investment firm with more than 100 million square feet…

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Hudson Valley Added More than 22,000 Private Sector Jobs in Last 12 Months

December 21, 2021

ALBANY—The New York State Department of Labor reported recently that private sector jobs in the Hudson Valley rose over the year by 22,100 positions, or 3.0%, to 766,400 in November 2021. Job growth was centered in leisure and hospitality (+13,400), professional and business services (+6,100), trade, transportation and utilities (+2,600), educational and health services (+1,900),…

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MTA Awards Contract for Nearly $3B Metro-North Penn Station Access Project

December 16, 2021

NEW YORK—The Penn Station Access Project, which has been widely supported by politicians and business interests in the Bronx and Westchester has reached a critical stage—the award of a contract to undertake the work that will provide direct Metro-North service from the Bronx, Westchester and Connecticut to Penn Station and Manhattan’s west side. Penn Station…

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Fordham, OneKey, HGAR Event Explored Overcoming Barriers to Development

December 14, 2021

NEW YORK—Commercial development plays an imperative role in the success and longevity of a community. However, the road to its execution can be riddled with legal, ethical and environmental hinderances. Real estate experts joined leading development and public policy professionals to discuss commercial development complexities and their resolutions in a virtual panel Nov. 18 hosted…

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Westchester, WCC Launch Advanced Manufacturing Career Training Program

November 29, 2021

WHITE PLAINS—In its continuing efforts to provide employment opportunities and workforce training in support of the Westchester County economy, the Westchester County Office of Economic Development reported that Westchester Community College will be  launching a new career training program for advanced manufacturing. The program, which will launch in January 2022, puts individuals with little or…

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Danskammer Energy Appeals State’s Air Permit Denial

November 29, 2021

NEWBURGH—While environmental groups and state politicians, including Gov. Kathy Hochul praised the decision in late October by the New York State Department of Environmental Conservation to deny a key air permit for the Danskammer Energy project here, key business, trade and economic development organizations have lined up in support of Danskammer’s recently filed appeal of…

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Oklahoma Firm Acquires Storied Hotel on Broadway for Nearly $56 Million

November 23, 2021

NEW YORK—Burnett Equities of Oklahoma City, OK has acquired the 531-room landmark Martinique New York on Broadway for $55.5 million. The deal was reported by brokerage firm Marcus & Millichap, which represented the seller, Herald Square Associates. Marcus & Millichap said that the total development cost for the revitalization of the asset, located on the…

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Ossining, Haverstraw Win $10-Million Downtown Revitalization Awards

November 23, 2021

OSSINING—Downtown revitalization efforts in the Village of Ossining and across the Hudson in the Town of Haverstraw each got a $10-million infusion of cash. New York Gov. Kathy Hochul announced at an event held at the Joseph G. Caputo Community Center here on Nov. 22 that Haverstraw and Ossining will receive $10 million each in…

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