First Residents Set to Move In, Model Homes to Open
In the first quarter of 2020, the first residents are expected to move in to Edge-on-Hudson, in Sleepy Hollow. It’s a remarkable milestone for a project years in the making, one that is anticipated to boost the local economy and restore access to a section of the Sleepy Hollow waterfront that has been off limits as an industrial site for more than 100 years.
In fact, 2020 promises to be a year in which an array of milestones will be reached at the transit-oriented, mixed-use property along the Hudson River shoreline. Nearly 25 years after the last car rolled off the assembly line at the former General Motors Assembly Plant on the site, residents will begin moving into town homes constructed by Toll Brothers at Edge-on-Hudson. In addition, two model homes will open to visitors by early spring. The Lofts condominiums from Toll Brothers have also started to rise on-site, with Building 1 nearly sold-out and sales now underway on Building 2. Construction of rental apartments from Toll Brothers Apartment Living is also expected to commence in 2020.
2019 concluded with additional major news. The development team at Edge-on-Hudson, SunCal and Diversified Realty Advisors, announced that they had reached agreement with Hines, the international real estate firm, to develop 246 luxury apartments in phase two of Edge-on-Hudson. Hines has acquired “Parcel F” in order to construct the apartments, located at the entrance to the development, a block from the river’s edge. Hines is a privately-owned global real estate investment, development and management firm, founded in 1957, with a presence in 219 cities in 23 countries.
David Soyka, Senior Vice President, SunCal, commented, “Hines has a remarkable record of success across the globe and we’re gratified they will be participating with us in the development of Edge-on-Hudson.” Jonathan Stein, Founding Partner, Diversified Realty Advisors, added, “We’re utilizing world-class talent to execute this project and Hines brings unparalleled expertise.”
Grant Jaber, managing director of multifamily residential development in Hines’ East Region, said, “We are proud to be a part of this transformative development in the beautiful Village of Sleepy Hollow. The community’s mixed-use component, waterfront location and proximity to transit make it an extremely attractive investment for Hines.”
In December of 2019, Edge-on-Hudson was awarded a $500,000 grant from New York State’s Empire State Development Market New York (ESD MNY) to help accelerate development of the promenade and park along the Hudson River shoreline. Originally slated to be developed in phases over 7-10 years, the waterfront park is expected to see a portion of the construction completed over the next two years. Its design is scheduled to be completed in the first half of 2020, with work commencing after review and approval by the Village of Sleepy Hollow.
Nelson Byrd Woltz (NBW), a premier landscape architecture firm, will design the waterfront park and additional paths and open space connections at Edge-on-Hudson. Recent high-profile projects for NBW include the Hudson Yards Public Square and Garden in New York City.
In spring of 2020, the “Village Green,” a small section of park at the southern end of Edge-on-Hudson adjacent to Ichabod’s Landing, will be turned over to the Village of Sleepy Hollow and will afford new, improved public access to the southern section of the temporary waterfront path at Edge-on-Hudson.
As master developers of Edge-on-Hudson, SunCal and Diversified are continuing site development on the project, valued at $1 billion, which will eventually include 1,177 units of housing; a 140-room boutique hotel; 135,000 square feet of retail space; and 35,000 square feet of office space, in addition to more than 16 acres of parkland. More information is available at: www.edgeonhudson.com.
To see more of what you can expect at Edge-on-Hudson, check out this three minute VIDEO.