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“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
SLEEPY HOLLOW—Construction is expected to begin next year on a new DeCicco & Sons market at the Edge on Hudson project being developed at the former General Motors Assembly plant here.
The deal marks the first retail property to sign on at the Edge on Hudson development and marks the first grocer to operate in Sleepy Hollow, according to the developers. Sleepy Hollow residents currently must travel to adjacent villages for market shopping.
Edge on Hudson has reached an agreement with DeCicco & Sons, a leading upscale family-owned market group in Westchester County, for development of a 30,000-square foot market with an adjacent 5,000 square foot pharmacy at the transit-oriented mixed-use development in Sleepy Hollow. The new market is currently slated to be DeCicco & Sons 11th in Westchester. The market will feature an array of diverse grocery selections and prepared foods, including meat, seafood and produce, with organic and local farm-to-store options, as well as amenities such as a wine and beer café.
Following approvals from the Village of Sleepy Hollow Planning Board, construction of the new market is expected to be completed in 2021, with an opening anticipated early in 2022.
The DeCicco & Sons store in Sleepy Hollow will total approximately 35,000 square feet.
DeCicco & Sons was founded in 2006 by John Jr., Joseph Jr., and Christopher DeCicco with the opening of DeCicco & Sons in Ardsley. The three sons grew up in the grocery industry with their fathers, who opened their first store in the Bronx in 1973, 14 years after arriving from Italy. The family-owned business presently operates premium markets in Ardsley, Armonk, Harrison, Larchmont, Millwood, Pelham, Somers and Brewster.
The agreement with DeCicco & Sons marks the first retail signing at Edge-on-Hudson, which is set to include 1,177 units of housing; a 140-room boutique hotel; 135,000 square feet of retail space and 35,000 square feet of office space, in addition to more than 16 acres of parkland. Edge-on-Hudson, led by master developers SunCal, PCD Capital and lead development consultant Biddle Real Estate Ventures, is set on nearly 70 acres along the Hudson River waterfront, within walking distance to two Metro-North train stations at Tarrytown and Philipse Manor in Sleepy Hollow.
Also at the Edge on Hudson, the first residents moved into townhomes on-site in February, and model homes by Toll Brothers are set to open for the first time this spring. Construction of condominiums and apartments are also underway.
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
Most of the counties in the HGAR market area are considered “high-cost areas” by the FHFA.
NAR officials noted yesterday that the court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the court quickly ruled to grant final approval.
Outdoor space was especially important to movers to the Midwest, while movers to the Northeast were particularly driven by the need for more square footage and a better work commute.
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