A 437-acre mixed-use project prepares to break ground in the Hudson Valley
When IBM held its first mass layoffs in 1993, thousands of residents of the Hudson River Valley north of New York City lost their jobs and no major employer ever filled the void.
"This area was economically devastated when IBM left. Eight years ago I was given this 147-acre canvas on the Hudson River on which to build a destination that could bring offices, retail, residences and jobs to the Poughkeepsie area," said Andrew Maxon, who has begun leasing for the Hudson Valley Wine Village.
The 437-acre site sits on a natural bluff overlooking the Hudson River and Poughkeepsie on the other side.
"An opportunity to be a part of a project this size simply doesn’t come along very often. This is the largest developable tract on the Hudson River," said Mike Oates, president and CEO of the Hudson Valley Economic Development Corporation.
Maxon, a long-tenured developer in Connecticut, spend most of those eight years wading through environmental regulations necessary for placing such a large development in a natural setting. Years ago, the site was a vineyard with a working winery.
"We got the latest approvals for the road cut from the Department of Transportation, and we’re going to do that in November. We’re taking bids this week to bring water to the project," Maxon said.
Once that happens, construction will begin on the southern part of the development, which has been zoned for light industrial applications. Maxon says he has a film production company interested in the first phase, which will consist of between 150,000 sq. ft. to 200,000 sq. ft.
Maxon says he has approval for 158,000 sq. ft. of commercial space, 115,000 sq. ft. of which will be retail.
The centerpiece of the $273 million mixed-use development is a 140-room suite hotel, conference center, spa, restaurant and Tuscany Village designed for local vendors. Plans also call for two wedding chapels and a conference center for receptions.
The Hudson River Valley is home to several other popular attractions including Woodbury Common Premium Outlets, Legoland New York Resort, and Resorts World Catskills.