At a time when the credit marketing is tightening and many observers are waiting to see the fallout from the subprime debacle, a $1 billion residential development could be moving forward.
If all goes well, in two years a project known as Tuxedo Reserve will see its first homeowners move in.
What has been called the biggest residential project ever presented in Orange County, Tuxedo Reserve has spent almost two decades working its way ”“ at times, at a snail”™s pace ”“ through the planning and zoning boards. But there”™s a light at the end of the tunnel for Related Cos., the New York City-based developer proposing Tuxedo Reserve: Andrew Dance, a senior vice president for the company, said the town of Tuxedo granted preliminary subdivision approval on Dec. 11, 2007, for the first 103 houses. That leaves 1,092 others waiting to wind their way through the approval process. Related said it is confident that, after nearly 20 years, Tuxedo Reserve will finally move forward.
The initial plan was presented in the mid-1980s and was met with considerable resistance from environmental groups. The plan has languished at times, but Dance said the developers hope to see the first house built and occupied by 2010.
The development comprises 1,250 acres, 1,210 of which are within the town of Tuxedo. Dance described the project as “neighborhood-style,” with single-family houses and condominiums/townhouses nestled in the mountains with plenty of green space. In the center of the community, a 20,000-square-foot fitness center being designed by Equinox Fitness Clubs will house tennis courts, swimming pools and a clubhouse for parties and tenant events.
Related also will upgrade and maintain walking trails in Sterling Forest that connect to Bear Mountain State Park”™s trail system.
The developer will also build a 500,000-gallon sewage treatment plant to replace the town”™s 100,000-gallon plant that is “outdated,” Dance said. Since it will discharge into the Ramapo River, “the Department of Environmental Conservation will be keeping a close eye on this,” he said.
Robert A.M. Stern is the project architect and Cooper Robertson is also contributing to the design of Tuxedo Reserve. In addition to the 1,195 houses, some 20,000 square feet of commercial space will be set aside for “primarily retail,” according to Dance, to serve the residents.
The Tuxedo School District would eventually see a rise in student population of some 450 children, according to Related”™s projections, with 150 of those students being of high school age. The developers have given the town 40 acres to build a school if one is needed. “The school district has agreed to the location,” said Dance, “and we are in continuing discussions with them.”
Dance said town Supervisor Peter Dolan “has been very supportive of the project.”
Tuxedo Reserve still has a way to go before a shovel hits the ground: “We will have to put in the infrastructure, which we hope to get moving before the end of this year. We are very mindful that this is a process, and we have to be sure we have all the approvals and permits,” said Dance. “Now we need a series of outside agencies”™ approval ”“ the DEC and Department of Health ”“ and are moving as aggressively and as fast as we can.”
