Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
Woodbury Common Submits Plans for $250-Million Expansion
CENTRAL VALLEY—Experts that contend brick and mortar retail is dead, apparently have not heard of Woodbury Common Premium Outlets in Orange County.
Owner Simon Property Group announced today it has officially presented plans for another expansion of the property located at the intersection of I-87 and Route 17. The latest expansion plan is valued at $250 million and, if approved, will feature:
• 155,000 gross square feet of new retail/restaurant space.
• A parking deck with 3,000+ spaces that will consolidate surface parking areas and promote safety by reducing pedestrian/vehicular intersections, Simon officials stated.
• 21,000 gross square feet of tenant storage space.
• A 200-room hotel, which is expected to be built in the later stages of the project.
• Enhanced amenities that include a pedestrian-focused design with additional walkways, improved crosswalks and enhanced wayfinding; a new children’s play area and new and improved landscaping.
Woodbury Common has submitted a Draft Supplemental Environmental Impact Statement to the Village of Woodbury Planning Board to begin the municipal-review process.
“Woodbury Common Premium Outlets has been proud to be a dynamic source of economic growth generating hundreds of millions of dollars in tax revenue and thousands of jobs, as well as being a caring community neighbor,” said David Mistretta, Woodbury Common Premium Outlets General Manager. “This visionary proposal will further energize Woodbury Common, Orange County and the entire Hudson Valley as a world-class shopping and tourism destination that is so crucial to the region’s economic success today and in the future.”
A number of area politicians issued statements of support for the project, including Orange County Executive Steve Neuhaus, who stated, “Woodbury Common’s improvements will benefit Orange County communities and our tourism industry for years to come,” said Orange County Executive Steven Neuhaus. “We’re grateful that since Day 1, Woodbury Common has been a great neighbor, created numerous entry level and career path jobs and been a major driver of both sales tax revenue and regional economic opportunity.”
Village of Woodbury Mayor Andrew Giacomazza stated, “Woodbury Common has long been an elite destination because of its premier – and unique – shopping experience. This plan seeks to strengthen that brand advantage and power an even greater future. The Village of Woodbury looks forward to learning more about how this exciting proposal can benefit our residents, businesses and tax base.”
Woodbury Town Supervisor Thomas Burke added, “Woodbury Common has exponentially advanced quality of life in the Town of Woodbury through its economic firepower and deep involvement in our community. We eagerly await further details of this proposal and how Woodbury Common can deepen its roots to fuel a brighter economic future for our town and those who live, work and play here.”
Simon listed a host of benefits for the local area if the proposed development project was approved, such as:
• Substantial additional property and sales tax revenue to be shared by the Town and Village of Woodbury, Orange County, the Monroe-Woodbury School District, the Metropolitan Transit Authority, and police services in Woodbury and New York State.
• More than 3,000 jobs, including: 770 additional full-time and part-time jobs, plus an additional 296 indirect and induced jobs in New York State.
Nearly 2,000 direct and indirect construction jobs, including 1,659 on site.
Woodbury Common Premium Outlets currently employs 5,000 full-time and part-time during peak season. Woodbury Common debuted in 1985 with 25 stores encompassing 115,000 square feet. Today, it features more than 912,000 square feet of retail space and more than 250 outlet stores after completing multiple expansion projects.