Out Migration Has a Heavy Cost for NY State and Hudson Valley
Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.
The diminishing property values have restricted property owners' access to loans for essential upkeep, renovations, and maintenance, leading to a rapid deterioration of rent-stabilized buildings in the coming years.
Developer AMS Acquisitions received preliminary approval of financial incentives totaling approximately $11.6 million in sales and mortgage tax exemptions for a multi-phase $306.7-million, mixed-use development.
The City of Port Jervis was named the Mid-Hudson region winner of the sixth round of the Downtown Revitalization Initiative in 2023.
The consent decree, which still must secure court approval, will require WJWW to pay $1.25 million in civil penalties to the U.S. EPA ($600,000) and to New York State ($650,000).
Cross County was originally developed by Sol Atlas. The more than 70-acre property began operations with approximately 30 stores and the Cross County Hospital, which closed in the 1980s and was later redeveloped as a hotel.
With the median sales price for a single-family home in the City of Mount Vernon at $627,550 as of April, a 1.5% transfer tax translates to $9,413.25.
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
Located at 632-636 South Broadway, The Parker will feature 160 new units of all affordable housing in an elevator building, with on-site parking. The apartments will be priced for families with incomes at or below 80% of the area median income.
“Without a doubt, this (expo) is needed now more than ever,” Zarfes said.
Established last year, the Housing Fund Flex Program is made possible by a $100-million contribution of American Rescue Plan Act (ARPA) funds over two years.
“Our responsibility as a county government is to make sure that the opportunity for affordable housing is always there. Having access to decent housing is a basic, human right, and homes need to remain at a price point that all people can afford,”
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