Everything”™s coming up ”“ Stewart? It certainly appears that way, as another developer has turned its attention to the commercial possibilities evolving around the soon-to-be fourth airport in the Port Authority of New York and New Jersey”™s roster.
Hillside Cos., based in Newburgh, likes residential development and has even embraced the concept of the traditional neighborhood development design that”™s been touted by many. But Michael DiTullo, former head of Pattern for Progress and now an executive vice president for Hillside, said the company is moving toward commercial development as it grows its business plans.
Part of its commercial endeavor will take place on Silver Stream Road in New Windsor, a 15-acre parcel Hillside acquired for an undisclosed amount. DiTullo said the company plans to build a corporate park on the property and has an option to buy an additional 25 acres next to it.
The parcel has all the ingredients developers love: municipal services, including water and sewer. More importantly, it is just a signed contract”™s throw from the entrance of Stewart.
“We can”™t ignore the monumental expansion going on at the airport,” said DiTullo. “The airport”™s passenger traffic is expected to reach nearly 1 million passengers this year. They are also expanding capacity for cargo with the additional of a 112,500-square-foot facility.” That puts Hillside Cos. in the right place at the right time.
DiTullo said a New Jersey-based telecommunications company is interested in the site, but he declined to name it.
Hillside isn”™t only focusing on the lands surrounding Stewart. On the other side of the Hudson, it is in the early process of building the Hudson Valley Health, Fitness and Wellness Center on Route 9 in Poughkeepsie. It”™s a project Hillside is excited about because it feels it”™s the right location, on a well-traveled corridor and near several major Dutchess County health providers. The complex will be a hybrid, said DiTullo, with a health and fitness center that will be more connected to the medical community than traditional health and fitness clubs.
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“The facility will incorporate several aspects of health-related businesses, including a fitness center, natural food store and pharmacy.” Still in the planning and design stage, Hillside plans to build the facility between 80,000 and 140,000 square feet. “The goal is to create a one-stop center for wellness,” said DiTullo.
“We are also talking to local colleges about giving classes on health and wellness topics ”¦ the emphasis is to have ”˜pre-active”™ rather than reactive approach to health and fitness; a holistic approach to total body and mental wellness is the goal.”
The project team is working on design sketches and the building. The town of Poughkeepsie is the lead agency for the project, which will be located directly across the street from the main entrance to Poughkeepsie Galleria. “When all is said and done, we expect it to be between $35 (million) and $40 million in investment in Dutchess County,” said DiTullo.
Another component of Hillside”™s portfolio is “Wallkill Hamlet Center, which we consider a true traditional neighborhood development. It”™s a former industrial site where the former train depot was located.” The 7.5-acre parcel sits right in the heart of the hamlet in Ulster County and Hillside plans to develop 70 dwelling units and 30,000 square feet of retail and office space. The 70 dwelling units will be part of the retail space and combine the “live/work” space many newcomers to the region are looking for. A new streetscape is included, with sidewalks, new lighting and landscaping.
The center will be built in two phases over an 18- to 24-month period. The estimated cost of the project is between $12 million and $15 million, according to Hillside.
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