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Martin Berger and company are turning the neglected 156-acre property into an intergenerational live-work-play community called Hudson Heritage.
The decision to sell, developer Martin Berger said, is “bittersweet any time you spend five years or more on a project.”
The developer of Rivertowns Square in Dobbs Ferry has sued the owner of the retail space for allegedly blocking needed repairs at two parking decks.
The IDA board added a caveat to both project resolutions: The developers must meet with representatives of the building trades unions to discuss their possible involvement in the work.
The roughly $48 million proposal comes from two developers who have led recent major real estate projects in Westchester County.
The approvals, including three that are preliminary and one that is final, grant mortgage tax and sales tax exemptions and authorize bond financing.