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…
Read MoreALBANY—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…
Read MoreSOMERS—A plan was presented to the Somers Town Board on Thursday evening that if approved would involve the adaptive reuse of the 1.2-million-square-foot former and now vacant IBM campus here into a STEM high school geared at attracting top students from across the country. Evergreen Ridge, LLC of Stamford, CT, headed by principal Tim DiScipio,…
Read MoreWASHINGTON—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…
Read MoreRYE 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…
Read MoreWHITE 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…
Read MoreAs 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,…
Read MorePOUGHKEEPSIE—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…
Read MoreALBANY—Tarrytown-based Regeneron Pharmaceuticals Inc. is at it again, but this time in the Capital District. The state’s largest biotechnology company is planning to spend $800 million to expand its research and lab facilities upstate outside of Albany. The company’s capital plans were announced on Tuesday by Gov. Andrew Cuomo, who reported that the state’s Empire…
Read MoreNEW ROCHELLE—Westchester Residential Opportunities will honor HGAR’s 2017 President Dorothy Botsoe at its gala set for Wednesday, Oct. 10 from 6 pm. to 9:30 p.m. at the VIP Country Club in New Rochelle. Botsoe is the principal broker of Dorothy Jensen Realty, Inc. in White Plains. Last year, Botsoe became the first black president in…
Read MoreTARRYTOWN—Long-suffering commuters will soon get the full benefits of the new Tappan Zee Bridge, now known as the Governor Mario M. Cuomo Bridge. In fact, the ride could get much better by this Saturday. Gov. Andrew Cuomo announced on Tuesday that the second span of the Governor Mario M. Cuomo Bridge will open this Saturday,…
Read MoreYONKERS—New York City developer Extell’s proposed $502-million mixed-use waterfront project here has received approximately $21.3 million in incentives from the Yonkers Industrial Development Agency. Yonkers IDA officials stated that the incentives granted to Extell is the largest package of incentives offered by the authority in its history. The Yonkers IDA conveyed the perks to Extell…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus has confirmed rumors that have been circulating for months that Great Wolf Resorts, Inc. is considering building a major indoor water park resort in southern Orange County. Neuhaus, in a prepared release on Aug. 29, stated that the Madison, WI-based hospitality firm is considering a “handful” of potential sites in…
Read MoreOSSINING—The Ossining Children’s Center has unveiled a nearly $17-millon development plan that calls for the construction of a new 27,000-square-foot building that will enable the center to consolidate its programs under one roof. Located at 32 State St. in Downtown Ossining, the planned building would replace operations currently housed at two 120-year-old buildings OCC owns…
Read MoreWHITE PLAINS—A protracted regulatory and legal battle that has lasted more than seven years to redevelop the former Ridgeway Country Club in White Plains by the French American School of New York may be finally over. On Aug. 24, New York State Supreme Court Judge Joan Lefkowitz rejected two separate legal challenges filed by…
Read MoreWASHINGTON—American financial and lending systems look vastly different nearly a decade after the defining moments of the Great Recession, thanks in part to safe and sound lending and regulatory policy reforms, strongly supported by the National Association of Realtors. Today, home prices are at or approaching record highs in many markets, and mortgage default and…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development announced on Friday it had filed a formal civil complaint against Facebook for violating the Fair Housing Act by allowing landlords and home sellers to use its advertising platform to engage in housing discrimination. HUD officials also reported on Friday that the U.S. Attorney for the Southern…
Read MoreWHITE PLAINS—Numbers don’t lie and the latest statistics prove beyond a shadow of a doubt that tourism is a major revenue producer for Westchester County. Tourists have flocked to Westchester to enjoy the Long Island Sound and the Hudson River. They also come to the county to hike its mountains, tour its museums and ride…
Read MoreWHITE PLAINS—Officials with the Latimer Administration say they plan to be engaged with the business community and other stakeholders to pivot the county’s economic development efforts to the needs of both small and large businesses in Westchester. Since taking office in January, the county’s Office of Economic Development and its Industrial Development Agency and Local…
Read MoreWHITE PLAINS—In an exclusive interview with Real Estate In-Depth, Westchester County Executive George Latimer said he is hopeful that issues can be addressed in the next few months to allow a bi-partisan co-op disclosure bill to come before him for signature. County Executive Latimer, while not taking sides in the debate, noted that Realtors and…
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