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The mixed-use plan along the Hudson River includes dozens of apartments, affordable housing units as well as commercial space, according to Alembic Community Development Co.
Project Manager Karuna Mehta presented the multi-million dollar to the Newburgh City Council last week.
"An innovative community use for the building something that'll help the residents of Newburgh, but also something that will attract attention to the Hudson Valley," Mehta said.
The development plan includes restoration of the endangered Dutch Reformed Church, 2 Montgomery St., and the rehabilitation of the former City Club property, which adjoin the site.
The site has a commanding view of the Hudson River, Bannerman's Island and West Point. It's a short walk to Orange County Community College and access to the New York Waterway ferry system with connections to Grand Central Terminal in Manhattan.
Although the project is just a proposal, it has generated a lot of public attention including many concerned residents at Monday's City Council meeting.
A representative of a design firm, UAI Ives, described the goals of the project, saying: "We want to extend the feel of the existent neighborhood while starting a bridge to the waterfront. We wanted to create a lively feel that works within the constraints with the slope site,"
At Monday night's meeting, city officials announced an agreement where the developers would avoid paying taxes for 30 years and instead make a set payment to the city yearly, starting at $300,000 in the first year and concluding at more than $500,000 in the 30th and final year.
That announcement has some critics concerned Newburgh would end up spending more each year on services for the new residents, especially those requiring supportive housing.
The project manager said the new development would create nearly 300 full-time construction jobs and at least 60 permanent jobs.
More details about the proposal can be found by clicking here.
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