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NY: Second Time’s The Charm

National Multifamily

The recession curbed a lot of planned projects across the US, but we were on hand for the resurrection of a $65M mixed-use residential development last week just 30 miles north of NYC. There, the Village of Ossining and Ginsburg Development held the second groundbreaking—the first piles of dirt were shoveled back in 2006 before being stymied by the downturn—for Harbor Square, a 188-unit luxury rental building on the banks of the Hudson River. “Good things comes to those who wait,” said village Mayor Bill Hanauer (left, whom we snapped with developer Martin Ginsburg).  And five mayors later, the project finally saw pile drivers installing poles for the foundation.


One positive thing came out of the recession: Martin says he was able to redesign a better project, and that Westchester County’s river towns are dependent on proper redevelopment of industrial properties along the Hudson. Out of the 188 units, 10% will be held aside as affordable housing, and the project will include a 5,000 SF destination waterfront restaurant, a new waterfront park, public sculptures, and a children’s playground. The mayor says that the project—expected for a 2016 completion—will turn the area into a tourist destination, which’ll also include an extended pier, brewery, a revived Sing Sing Prison Museum, and possibly an aquarium.