Dozens of sites along the former industrial corridor are being targeted for residential development.
From David Shaw’s soon-to-be-finished compound in Hastings-On-Hudson to large-scale condominium projects in Haverstraw, Ossining and Sleepy Hollow, the river which brought commerce and settlements to the Lower Hudson Valley is undergoing a long multi-year Renaissance.
After most of the ambitious plans for the waterfront stalled during the recession, many are coming back in an altered state.
Martin Ginsberg’s Harbors at Haverstraw project has picked up steam by marketing the units next to the Tilcon stone quarry as rentals. After stalling years ago, the project might restart in 2013.
The developer also has a waterfront proposal in northern Yonkers which is being altered for a possible comeback this year.
Down the city’s coastline are more former industrial sites that are being marketed or planned as possible new apartment buildings, including the Glenwood power station, Altman Lighting and Palisades Point.
Frank Tomasulo, the senior vice president at commercial real estate company CBRE who is marketing the Altman property at 57 Alexander St., said the red-hot New York City housing market is starting to fuel demand for high-end apartments in the northern suburbs, especially for units with river views.
“If you look up and down the river as to where its going to happen, clearly Yonkers is the spot,” he says.
Other sites further north are poised to make news as well.
In Sleepy Hollow, the site of a former General Motors factory has been undergoing an environmental cleanup with an eye toward adding 1,177 residential units, 35,000 square feet of office space, 135,000 square feet of other commercial space and a 140-room hotel .
That cleanup is expected to be completed later this winter, and a lawsuit filed by Tarrytown to stop the development — which was denied in 2012 but appealed by the village — could be thrown out for good by the end of 2013, finally paving the way for progress at the 96-acre site.
In Hastings-On-Hudson, another environmental cleanup is in the works at the former Anaconda Wire and Cable plant. This waterfront site is set to be restored as part of an estimated $250 million project led by Atlantic Richfield Company, a BP-affiliated organization.
Atlantic Richfield owns 28 acres there along the Hudson, and 14 acres are owned by other parties. Old structures have been demolished and the company says that it has begun investigating an engineering design for a cleanup remedy that will eventually make the land ready for future uses.