Yonkers, Ossining waterfront plans show signs of progress

In this week’s Westchester County Business Journal, Bureau Chief John Golden wrote about new developments at two separate waterfront properties in Yonkers and Ossining.

On the Yonkers City Pier, Hudson Park developer Collins Enterprises L.L.C. has enlisted Berkshire Property Advisors of Manhattan as a new partner for the 560-unit luxury rental complex (which also includes restaurant, retail and office space). Collins Enterprises hopes that with the $147 million recapitalization deal, it will be able to proceed with plans for the third phase of Hudson Park, an approximately 20-story, 180 to 200-unit apartment building on the north end of the Hudson Park site. (See here for the full article).

In Ossining, Harbor Square L.L.C. developers Ginsburg Development Cos. and Cappelli Enterprises Inc. recently presented a new plan before village officials, calling for the development of a six-story, 188-unit apartment building, a two-story, 10,000-square-foot restaurant and retail center and a roughly 3-acre waterfront park. The plan has been stalled since the recession hit in 2008. (See here for the full article).

High-tech research complex in Valhalla’s future?

Westchester County Executive Rob Astorino today announced plans to seek a public-private partnership to turn the county’s 60-acre Grasslands Reservation property into a high-tech research complex in support of the county’s growing biotech and medical industries.

The county has issued a request for qualifications to interested developers for the currently undeveloped property adjacent to the Westchester Medical Center. The RFQ can be found at www.westchestergov.com/rfp, and proposals are due April 24.

“When it comes to real estate, the watchwords are: location, location, location,” Astorino said in a statement. “The North 60 is ideally situated in the middle of Westchester’s bio-tech corridor. It can take advantage of the county’s highly trained workforce, and market prices are extremely attractive right now. We think that can be a winning combination for a developer with the right vision for the property.”

Following the April 24 proposal deadline, county officials will then evaluate all proposals and negotiate with the preferred company.



Positive signs for U.S. recovery

In a recap of some of this week’s economic data heading into the holidays, there is reason for optimism as businesses round out the year:

  • Unemployment claims fell by 4,000 to 364,000 for the week ended Dec. 17, marking the fewest claims since April 2008.
  • Thompson Reuters/U. of Michigan consumer sentiment index hit 69.9 for December from 64.1 in November, marking a 6-month high.
  • Fuel prices are down to an average of $3.21 a gallon for regular unleaded gasoline as of Dec. 20, its lowest level since February.
  • Housing starts jumped by 9.3% in November and the National Assoc. of Home Builders/Wells Fargo Housing Market index roseĀ in Dec. for the third straight month.