9 | FARM SCHOOL January 5, 2015 | VOL. 51, No. 1
Developer seals deal for GM site RAZED PROPERTY IN SLEEPY HOLLOW GOES FOR $39.5M BY JOHN GOLDEN jgolden@westfairinc.com THE DEVELOPER OF THE LONGVACANT General Motors Co. automotive assembly plant site in Sleepy Hollow has closed on its $39.5 million purchase of the property as the future site of Lighthouse Landing, a major mixed-use riverfront development first proposed by the Detroit automaker nearly a dozen years ago. The sale of the nearly 100-acre property off Beekman Avenue closed on Dec. 23, Sleepy Hollow Mayor Kenneth Wray announced on the village website. The seller was the Town of Mount Pleasant Industrial Development Agency,
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FLEETWOOD DEVELOPER GETS COUNCIL OK
For the greater good
BY JOHN GOLDEN jgolden@westfairinc.com A DIVIDED MOUNT VERNON CITY COUNCIL ended the year by narrowly approving measures that will speed the way for New York City development partners to move ahead with plans to build a luxury apartment tower and privatize a city parking garage at a busy corner in the city’s Fleetwood business district. Opponents of the $85 million to $90 million project at 42 Broad Street West proposed by Alexander Development Group said they are considering a legal challenge to the council’s decision to support the residential and retail development and turn over management of an adjacent parking garage on Broad Street to the developer and more than half of its existing 411 parking spaces for exclusive tenant use. Alexander Development, based in Manhattan, and its co-developer, The Bluestone Organization in Queens, plan to build 249 market-rate rental
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Dr. Chau Dang, chief of Memorial Sloan Kettering’s West Harrison Medical Oncology Service. Photo by Bob Rozycki
» FLEETWOOD, page 6
Can city yard stay in Echo Bay? BY MARK LUNGARIELLO mlungariello@westfairinc.com WHEN FORMER STATE ASSEMBLYMAN Ron Tocci heard that New Rochelle was considering using eminent domain to relocate a city yard, his first question was “why?” The site near Flowers Park being analyzed for potential acquisition using eminent domain includes one multifamily home and 10 businesses. Tocci said the logistics of dealing with multiple owners immediately raised a red flag for him.
“There’s going to be a lot of problems with this,” he said. Tocci represents Reimagine New Rochelle, a group formed by local veterans with the goal of preserving the former armory at Echo Bay. The existing Department of Public Works yard is adjacent to the armory, the centerpiece property in a plan by the city to build a mixed-use development on Echo Bay. The original plan from Forest City Residential Inc. to develop the area was abandoned after a yearslong process that saw opposition from residents and veterans, who scoffed
at early iterations of the proposal that suggested razing the armory. The city agreed in July to negotiate a memorandum of understanding with a new developer, Manhattan-based Twining Properties, but Tocci said that since the deal is yet to be finalized, the city should consider developing Echo Bay in a piecemeal fashion that would exclude the armory and city yard from the plan. The current city yard is in a state of disrepair and must either be significantly rebuilt or » ECHO BAY, page 6