Poughkeepsie Wins $10M Economic Development Award; Nyack, Dobbs Ferry to Land $4.5 Million Each

ALBANY—New York State officials announced on Tuesday that the City of Poughkeepsie will receive $10 million in funding as the Mid-Hudson winner of the eighth round of the Downtown Revitalization Initiative, and the villages of Nyack and Dobbs Ferry will each receive $4.5 million as the Mid-Hudson winners of the third round of NY Forward.

“We are changing the game for these communities by supporting affordable housing, local businesses, and sustainable infrastructure,” Gov. Kathy Hochul said. “I see a future where every New Yorker has the chance to thrive in communities around the state. I want to ensure that New York has neighborhoods that are not just places to live, but places where people can work, grow, and succeed.”

The funding awards were announced at a ceremony on Tuesday in Poughkeepsie. Among the dignitaries at the event included New York Secretary of State Walter T. Mosely, who was joined by business and political leaders.

New York Secretary of State Mosley said, “Over the last seven rounds of the Downtown Revitalization Initiative and two rounds of NY Forward, we have seen proof that investing in downtown communities leads to both economic growth and better quality of life for residents. In this latest round of funding, Poughkeepsie, Nyack and Dobbs Ferry will now have the opportunity to hand-select projects for funding that will make the changes in their downtowns that their residents need. The future is bright for all three of these communities, and we look forward to seeing their visions become a reality.”

To receive funding from either the DRI or NY Forward program, localities must be certified under Gov. Hochul's Pro-Housing Communities Program—an innovative policy created to recognize and reward municipalities actively working to unlock their housing potential. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to increase their housing supply; to date, 287 communities across New York have been certified as Pro-Housing Communities.

This year, Gov. Hochul is proposing an additional $100 million in funding to support infrastructure projects necessary to create new housing in Pro-Housing Communities, and a further $10.5 million to technical assistance to help communities seeking to foster housing growth and associated municipal development.

The $10-million award will focus on downtown revitalization initiatives in Downtown Poughkeepsie, which boasts a host of entertainment and hospitality venues—including the Bardavon 1869 Opera House, the Chance Theatre, the Mid-Hudson Civic Center and the former Poughkeepsie Grand Hotel. The city hopes to transform its Main Street Corridor into a thriving multi-modal transportation link to all critical assets and attractions in the city, state officials noted.

Nyack officials hope to leverage the $4.5-million NY Forward award and its history and geography to attract further investment in business growth, affordable housing, gateway improvement and equitable access to the waterfront.

The Village of Dobbs Farry seeks to fully realize its potential by redeveloping and improving key properties and opening space in the downtown area and the pedestrian corridor linking the Metro-North station to the downtown. The Village will also expand economic opportunities and create a more sustainable, walkable and vibrant downtown thanks to the $4.5-million NY Forward funding.

Poughkeepsie, Nyack and Dobbs Ferry will now begin the process of developing a Strategic Investment Plan to revitalize their downtowns. A Local Planning Committee made up of municipal representatives, community leaders and other stakeholders will lead the effort, supported by a team of private sector experts and state planners. The Strategic Investment Plan will guide the investment of DRI and NY Forward grant funds in revitalization projects that are poised for implementation, will advance the community’s vision for their downtown and that can leverage and expand upon the state's investment, state officials said.