Commercial

Rockland County Budget Veto Override Vote Fails

December 21, 2016

NEW CITY—Earlier this week the Rockland County Legislature failed to secure the necessary two-thirds majority to override Rockland County Executive Ed Day’s vetoes in Rockland County’s 2017 budget. The Legislature voted 11-5 to override the vetoes, but fell short of the mandated 12 votes necessary to achieve the two-thirds majority. According to the Journal News,…

Read More

Westchester’s RPW Group Sells NYC Property for $108M

December 21, 2016

NEW YORK—Robert Weisz’s RPW Group, Inc. has sold an office building on the West Side of Manhattan in the Garment District to ATCO Properties & Management for $108 million. Rye-Brook based RPW Group sold 240-246 West 35th St., an 18-story 165,000-square-foot office building located near Penn Station.  The transaction closed on Dec. 20th. The office…

Read More

New Rochelle Looks to Create Downtown Arts and Cultural District

December 21, 2016

NEW ROCHELLE—As the city moves forward on its ambitious and far-reaching Downtown redevelopment plan, the city is also working on a master plan to create an arts and cultural district downtown as well. City leaders say that the district is envisioned to be a “regional mecca for artists and innovators in line with the city’s…

Read More

RXR Begins $190M Mixed-Use Project in Downtown Yonkers

December 15, 2016

YONKERS—Marking the firm’s second major groundbreaking of late in Westchester County, developer RXR Realty and partner Rising Development joined Yonkers Mayor Mike Spano and city officials on Dec. 14th to officially begin construction on its $190-million Larkin Plaza mixed-use development project. The Larkin Plaza project, among the largest private developments in downtown Yonkers in some…

Read More

Wegmans Announces Plans To Build Harrison Store

December 15, 2016

HARRISON—Wegmans Food Markets, Inc. has confirmed that the family-owned supermarket chain has signed a purchase agreement with Normandy Real Estate Partners for a 20-acre parcel of land, located at 106-110 Corporate Park Drive in Harrison to build a new store. “We look forward to the day when we can welcome customers into our Harrison store…

Read More

Governor Cuomo Doubles Down On Life Sciences Sector Growth

December 15, 2016

ALBANY—New York Gov. Andrew M. Cuomo announced on Dec. 12 what he terms a groundbreaking new $650-million initiative to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy. The multi-faceted initiative includes $250 million in…

Read More

New Tappan Zee Bridge to Open on Time in 2018

December 15, 2016

TARRYTOWN—At a topping off ceremony for the new span’s eight towers, state officials announced that the new Tappan Zee Bridge (also known as the New NY Bridge) will open for traffic in 2018 and will be completed on budget at $3.98 billion. A host of political, business and construction trade officials gathered at the project…

Read More

Westchester IDA, LDC Generated $604M in Private Investment in 2016

December 14, 2016

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced earlier this moth that projects supported by the Westchester County Industrial Development Agency and Local Development Corporation in 2016 totaled $604 million in private investment. The 13 IDA and LDC projects created or retained approximately 2,179 permanent and construction jobs. The year-end results were announced at the…

Read More

Veterinary Neurologist Acquires Brewster Commercial Space

December 14, 2016

BREWSTER—Steven Salomone of Houlihan Lawrence Commercial Group reported the brokerage firm recently closed on a commercial real estate sales transaction here valued at $2.49 million. A veterinary neurologist and primary care specialist plans to repurpose an existing 29,000-square-foot former software distribution center and warehouse at 4 Hardscrabble Heights as a new specialty care center for…

Read More

Professional Soccer Team Building Training Facility in Orangeburg

December 14, 2016

ORANGEBURG—Construction has begun on a training facility for the MLS professional soccer team the New York City Football Club (New York City FC) on a 17-acre site here. Construction commenced on The City Football Academy in the fall and is expected to be completed in early 2018. The plans originally announced in October consist of…

Read More

Mid-Hudson Region Secures $83M in State Grant Funds

December 13, 2016

Legoland Project Awarded $3 Million  ALBANY—The Mid-Hudson Valley region came out the big winner in this year’s Consolidated Funding Awards, netting $83.3 million in state aid that will support 105 economic development/infrastructure projects in the seven-county region. In an announcement on Dec. 9, Gov. Andrew Cuomo awarded a total of $716.9 million in CFA funding…

Read More

Report: Demographic Shifts, Consumer Demand Will Keep U.S. Suburbs Thriving

December 8, 2016

WASHINGTON—Suburban housing markets across the United States are evolving rapidly and overall remain well-positioned to maintain their relevance in the years ahead as the places where most Americans live and work, even as many urban cores and downtown neighborhoods continue to attract new residents and businesses, according to a new publication from the Urban Land…

Read More

Loew’s Theater Groundbreaking a Precursor to Building Boom

December 1, 2016

NEW ROCHELLE—A groundbreaking was staged at the long-shuttered Loew’s Theater in New Rochelle on Nov. 30 for a much-anticipated $120-million mixed-use high-rise tower. However, while definitely cause for celebration, city officials and the developer say the event was just the first of what they expect will be a host of new commercial developments that will…

Read More

UPDATE: Astorino Budget Hinges on Airport P3 Deal

November 22, 2016

WHITE PLAINS—While business groups have praised Westchester County Executive Robert Astorino’s recent public-private partnership (P3) proposal at Westchester County Airport, the county executive’s proposed $1.8-billion budget is predicated on the Westchester County Board of Legislators approving the plan before the end of this year. In fact, the Board of Legislators has until Dec. 27 to…

Read More

DHL, Possibly New Air Carrier Coming to Stewart Airport

November 22, 2016

TOWN OF WALLKILL—While Stewart Airport has made headlines with the recent revelation that Brooklyn Brewery may be building an $80-million facility at the airport grounds in New Windsor, several other major developments at the airport operated by the Port Authority of New York and New Jersey could be in the offing as well. At a…

Read More

Gap Inc. Opens Fishkill Distribution Center in ‘Pop-Up’ Facility

November 16, 2016

FISHKILL, NY—At a press conference at the warehouse facilities of Gap Inc. here, Gov. Andrew Cuomo announced on Nov. 16th that the retailer has opened its Fishkill distribution center in a new “pop-up” facility allowing more than 1,200 employees to return to work following the devastating fire that destroyed a company warehouse in August. Currently,…

Read More

Orange County Stages ‘Topping Out’ Ceremony at Government Center

November 16, 2016

GOSHEN, NY– Orange County Executive Steven M. Neuhaus joined Chairman of the Legislature Steve Brescia recently at the Orange County Government Center here for a ceremony to place the final steel beam on top of Division Two of the building. A “topping out” ceremony is a construction tradition that signifies that the highest point of…

Read More

Construction on Iona College’s New Project Could Begin Next Spring

November 16, 2016

NEW ROCHELLE—Iona College recently announced plans for a new facility for its AACSB-accredited School of Business, a state-of-the-art academic building that will incorporate part of the existing Hagan Hall while more than doubling the space for classrooms, lectures and faculty offices. Architectural renderings and plans for the new building were shared with the campus community,…

Read More

Brooklyn Brewery Looks to Invest $80M in New Facility at Stewart Int. Airport

November 14, 2016

NEW WINDSOR, NY—The Port Authority of New York & New Jersey Board of Directors tabled a plan that would have Brooklyn Brewery invest at least $80 million on a new 250,000-square-foot facility on vacant land at the industrial park at Stewart International Airport Industrial Park. The PA Board on Nov. 17th tabled the proposal that…

Read More