The move effectively keeps congestion pricing tolls in effect through at least June 9.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.98% from 6.92%.
She has led Housing Action Council’s Technical Assistance Program enabling non-profit housing organizations, human service agencies, and emerging developers to develop affordable housing resulting in thousands of housing units in New York’s Hudson Valley region.
Now is the moment for Clarkstown to lead. The town can and must take an active role in facilitating the rebirth of this site.
Editor’s Note: This article first appeared in the Rockland County Business Journal.
The foreclosure of the Palisades Center Mall in West Nyack marks more than the end of an era—it marks the beginning of a critical inflection point for Rockland County’s commercial real estate sector. Once the crown jewel of retail in the region, Palisades Center is now emblematic of the nationwide reckoning facing large-scale malls. But in crisis lies opportunity, and if Rockland County and the Town of Clarkstown act with foresight, this site can be transformed into a model of 21st-century urban regeneration.
The 2.2 million-square-foot mall is not just another distressed property; it is strategically located at the crossroads of three state highways—Route 303, the New York State Thruway (I-87), and Route 59. This unparalleled infrastructure offers a launchpad for mixed-use redevelopment that can reinvigorate the entire region. Yet, if allowed to languish in uncertainty and decay, the mall’s decline will ripple outward, impacting surrounding strip malls, office parks, and residential neighborhoods.
A deteriorating property of this magnitude invites criminal elements, economic stagnation, and disinvestment—a fate Rockland cannot afford.
The foreclosure sends a clear signal: traditional retail, especially in monolithic, single-use formats, is no longer a sustainable model. Anchor tenants are gone, foot traffic has declined, and consumer habits have shifted irreversibly toward online shopping and experiential venues. Nearby commercial properties and strip malls are already seeing reduced traffic and increased vacancies due to this spillover effect.
But this challenge also creates fertile ground for reinvention. Around the country, we’ve seen defunct malls transformed into vibrant multi-use campuses featuring market-rate and affordable housing, Class A office space, entertainment venues, local food halls, boutique hotels, and last-mile logistics centers. These reimagined developments not only meet today’s market demands but also grow the tax base, attract young professionals, and reduce the housing burden on local residents.
Now is the moment for Clarkstown to lead. The town can and must take an active role in facilitating the rebirth of this site. This includes:
Proactive Zoning Changes: Update zoning to encourage mixed-use development. Streamline the approval process for projects that incorporate housing, retail, hospitality, and warehousing in thoughtful, community-oriented designs.
Public-Private Partnerships (PPPs): Attract qualified development partners through RFPs and incentivize projects that include both market-rate and affordable housing. The town can leverage infrastructure investments or tax incentives to ensure alignment with community goals.
Community Engagement: A successful redevelopment must have the support of local residents. Host listening sessions, visioning workshops, and town halls to include diverse voices in the planning process. Transparency and collaboration will be key.
Sustainability and Smart Growth: Encourage green building practices and transit-oriented development. With its proximity to major roadways, the site can be a regional hub that balances growth with environmental responsibility.
Rockland County and New York State must recognize the Palisades Center site as a regional priority. That means funding infrastructure upgrades, facilitating state-level economic development grants and supporting workforce housing initiatives. The state can also provide technical assistance for site remediation or redevelopment, and help market the location to prospective tenants or investors.
Importantly, redevelopment efforts must include affordable housing. Rockland County is facing a housing shortage that affects not just low-income residents but also young professionals, teachers, healthcare workers and first responders. The Palisades Center site offers an unprecedented opportunity to address this need, while also diversifying Clarkstown’s economic profile.
Communities from Austin, TX to Aurora, CO have taken bold steps to reimagine malls as mixed-use neighborhoods. These projects have yielded increased tax revenues, reduced crime and improved quality of life. Clarkstown has the chance to become a case study in how local governments can turn economic headwinds into transformational winds of change.
We must not let fear, inertia, or political infighting delay the future. The cost of inaction is far too high—not just in dollars, but in missed opportunity. Without a plan, decay will set in. And once the criminal element gains a foothold, reversing the decline becomes exponentially harder and more expensive.
Now is the time for vision. Now is the time for action.
Let us not allow the Palisades Center to become a monument to what was, but rather a cornerstone for what can be.
About the author: Paul Adler is Chief Strategy Officer of Rand Commercial. paul.adler@randcommercial.com.
Editor’s Note: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views or positions of HGAR, its affiliates, or any other entity.
Nguyen is a local Realtor with more than 20 years of experience.
There is no doubt that Rockland County faces housing challenges that impact a wide range of residents—from teachers and first responders to seniors and working families.
This event will bring together major stakeholders to strategize how to realize Rockland’s housing potential while maintaining the character of existing neighborhoods.
An additional lane will ease congestion to tourist destinations and support local businesses that rely on efficient transportation for deliveries.
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