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The global real estate investment, development and management firm Hines, which has its headquarters in Houston, has signed on to develop 246 luxury apartments...
DEC Commissioner Basil Seggos said the projects will help "expand recreational opportunities throughout the estuary."
The money was part of more than $763 million in economic and community development grant funding awarded through the eighth round of the Regional Economic Development Council initiative.
The construction is part of the first phase of the redevelopment of the former GM assembly plant in Sleepy Hollow.
The Mid-Hudson economic development council recommends the state fund Westchester projects that includes waterfront revitalizations in Port Chester and Sleepy Hollow.
The former factory town is currently undergoing a resurgence with new investments and developments that are expected to revitalize the growing community.
The state announced the latest round of grants, with up to $750,000 targeting projects in the villages of Tarrytown and Sleepy Hollow.
“It has been a long journey,” said Edge-on-Hudson developer Jonathan Stein. “But the site really speaks for itself. It’s a unique opportunity.”
“It took a long time,” said CEO Lindsay Farrell. “It’s exciting that we’re finally here now.”
Cuomo vetoed similar bills last year, saying at the time that the state Legislature has historically only approved occupancy tax bills for counties and cities, not towns or villages.
The recent deal marks the second major real estate purchase in two years by the rapidly expanding biotechnology company.
The New York State Senate approved legislation over the weekend authorizing certain municipalities to impose an up to 3 percent hotel/motel occupancy tax on...
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