The property is currently 96% leased to 27 tenants across diverse industries including wholesale and distribution, healthcare, financial services, logistics, and construction.
Neuhaus, who is a graduate of Mount Saint Mary in Newburgh, noted the long-standing issues with the property, saying, “The obituary for this site was written decades ago. You are bringing this place back to life.”
The cost of acquiring the vacant 12.43-acre site is $3.9 million. According to its application with the IDA, building and construction is estimated to cost $17,864,850 and equipment costs have been put at $13,136,536.
Under county ownership, the center will be revitalized and developed into a regional destination for live performances, educational programming, and community events.
This project represents a $600-million investment to build a five-story, 3.2 million-square-foot facility that will replace an active heavy mining operation with a dynamic advanced economic development project.
Some of the project highlights include the construction of a five-story facility with each floor consisting of approximately 600,000 square feet of space.
In his new role, Irace will focus on cultivating strategic partnerships, recruiting new investment to the region, and promoting development opportunities.
HGAR strongly opposes Good Cause Eviction, arguing it limits landlords' ability to manage properties. Automatic lease renewals, rent restrictions, and legal hurdles could discourage investment, shrink rental inventory, and raise costs for both landlords and tenants.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
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