Hudson Valley County Executives Urge President, Congress to Provide $12B to Prevent MTA Cuts

GOSHEN—County Executives from Orange, Putnam, Dutchess Rockland, and Westchester counties are urging President Donald Trump and leaders of Congress to provide $12 billion in funding to avert drastic service cuts and the elimination of commuter rail service in some sections of the Hudson Valley by the Metropolitan Transportation Authority. On Sept. 22, Orange County Executive…

RM Friedland Enters Office Brokerage Sector With Hiring of Veteran Broker O’Callaghan

HARRISON—In conjunction with the hiring of veteran commercial office broker Chris O’Callaghan, RM Friedland announced on Sept. 21 it has formed an office brokerage division. O’Callaghan joins Harrison-based RM Friedland after serving as Managing Director for Jones Lang LaSalle since 2013 where he was responsible for the Westchester County market for the commercial brokerage firm.…

Haverstraw Issues RFEI to Developers For Long-Vacant Waterfront Parcel

HAVERSTRAW—The Village of Haverstraw is taking a significant step in developing a long vacant and underutilized downtown waterfront parcel with the issuance of a Request for Expressions of Interest to development firms. The village, which issued the RFEI today, is hoping to find a developer that will embrace its vision of developing a mixed-use project…

New York State’s Jobless Rate Falls to 12.5%

ALBANY—The New York State Department of Labor announced on Sept. 17 that the state’s seasonally adjusted unemployment rate decreased from 15.9% to 12.5% in August 2020. In August 2020, the number of unemployed New York State residents decreased by 339,000, while labor force levels decreased by 86,700. In August 2020, the number of private sector…

Westchester Rolls Out Comprehensive COVID Aid Program To Help Suffering Homeowners, Tenants and Landlords

WHITE PLAINS—Westchester County has rolled out four distinct housing assistance programs that are being funded by HUD and the CARES Act geared to offering a comprehensive approach in dealing with the economic and social impacts of the COVID-19 pandemic. Westchester County Executive George Latimer announced the “Community Build Back Program” on Sept. 17 that includes…

Yonkers IDA Grants Preliminary Approval For $72-Million Apartment Development

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency recently granted preliminary approval of financial incentives for a $72-million multifamily project that will redevelop a blighted and vacant block in the Warburton Ravine Urban Renewal Area. Point & Ravine Apartments, which is a public partnership between developer Conifer Realty LLC and the City of…

Five Questions With National Association of Realtors CEO Bob Goldberg

As the real estate industry in the Hudson Valley and the New York City metro region continues to adhere to new practices and safety protocols brought on by the coronavirus pandemic, Realtors’ acceptance and adaption to new technologies have been seen by many observers as critical in preventing the sector’s economic collapse in the spring…

Hudson Valley Home Sales Market in Full Recovery; In Midst of Pandemic, Record Sales Volume Projected

WHITE PLAINS—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, the consensus from Realtor executives is that thanks to the resiliency of real estate professionals throughout the region, the Hudson Valley home sales market is on a torrid pace to perhaps shatter sales records. The pent-up…

Westchester County Business FIRST Grant Program To Provide $10M for Local Businesses, Nonprofits

WHITE PLAINS—Westchester County Executive George Latimer announced on Sept. 16 a $10-million funding initiative to support small businesses and nonprofits facing challenges due to COVID-19. The Westchester County Business FIRST: Financial Investments for Recovery and a Sustainable Tomorrow grant program is designed to offer immediate financial relief to organizations in Westchester County that have been…

Community Preservation Corporation Launches $20 Million ACCESS Initiative to Empower Minority Real Estate Development, Investment

NEW YORK—The Community Preservation Corporation, a leading nonprofit affordable housing and community revitalization company, announced today the creation of the $20-million CPC Acquiring Capital and Capacity for Economic Stability and Sustainability (ACCESS) initiative that will provide flexible capital to create opportunities for people of color in real estate development and prioritize investment in communities of…

Panel Tackles How to Use ‘Big Data’ in CRE

WHITE PLAINS—The Hudson Gateway Association of Realtors’ Commercial Investment Division presented a highly informative and forward-thinking workshop program entitled “How to Use ‘Big Data’ in the Commercial Real Estate Game.” The Zoom program was held on Sept. 10 and was part of CID’s Women in Commercial Real Estate series. The workshop focused on the use…

Orange County Stages Successful Air Show Event That Can Serve as Model for Other Programming

MONTGOMERY—On August 29 and 30th, Orange County hosted the 2020 New York international Air Show. Although the weather didn’t quite cooperate on Saturday, we couldn’t have asked for a more perfect day on Sunday. We estimated that about 12,000 attendees were with us to experience a wonderful show. This size event was the first in…

The 2020 New York international Air Show, Orange County Airport, Montgomery, NY

The New York Botanical Garden, Douglaston Ink Two Long-Term Ground Leases for Mixed-Use Affordable Projects in the Bronx

NEW YORK—Finalizing a deal announced earlier this year, The New York Botanical Garden and Douglaston Development have closed two separate 99-year ground leases at 2856 Webster Ave. and 410 Bedford Park Blvd. in the Bronx that will in a few years feature affordable housing projects totaling more than 400 units. New York City-based Douglaston states…

Searching for Solutions for a Sick Economy

With the prospect of further coronavirus relief coming from Washington, DC getting bleaker by the moment, state, county and local governments will be facing some harsh fiscal decisions due to the economic fallout from COVID-19 this year and in 2021. Gov. Andrew Cuomo has threatened to withhold 20% of funding earmarked for local governments, hospitals…

First New Hotel in Seven Years Opens for Business in Rockland

SPRING VALLEY—Rockland County Executive Ed Day announced on Sept. 9 the first new hotel to open in the county in seven years—The Element by Westin here. The Element by Westin is located at 90 Spring Valley Marketplace and has already started taking reservations for its 87-room inventory ahead of a soft opening scheduled for today…

Construction Starts on $51 Million Affordable Project in Peekskill

PEEKSKILL—Ground was officially broken on Sept. 9 at Wilder Balter Partners’ $51-million affordable housing project at 645 Main Street in Downtown Peekskill. A host of state, county and city luminaries were on hand for the event signaling the ceremonial start of construction of the 82-unit development. The new affordable complex is reserved for households earning…

LEGOLAND New York on Track for 2021 Opening

In early March, when the Coronavirus began to shutter almost everything in its path, the LEGOLAND New York Resort under construction in Goshen was also forced to push back its planned July 4, 2020 opening date until 2021. LEGOLAND New York and its parent company, Merlin Entertainments, made the decision to postpone the Grand Opening…

HG Realtor Foundation Virtual Walk/Run Challenge Raises More Than $5,000

WHITE PLAINS—The Hudson Gateway Realtor Foundation’s August 28 to 30th virtual Walk/Run Challenge has raised a total of $5,094 to date through walker/runner registrations, sponsorships and donations. The foundation’s funds are used to support local charities and non-profit organizations throughout the Hudson Valley and beyond. During the weekend challenge, individuals and teams could select their…

Turnbridge Finds New JV Partner; Secures $105 Million Loan for Bronx Logistics Center

NEW YORK— Turnbridge Equities reported on Sept. 8 it had entered into a new joint venture with affiliates of Dune Real Estate Partners LP to own and develop the five-parcel assemblage for the future Bronx Logistics Center. The joint venture has secured $105 million in predevelopment financing for the project to be developed in the…