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Interstate 84/87 Interchange Opens |
It's official! The New York State Thruway Authority has opened its newest interchange in the Town of Newburgh, allowing travelers to merge on and off Interstate 84 without accessing local highways. The new entering toll plaza came on line in July, and the new existing toll plaza opened for traffic in late September.
The $121 million project also relieves congestion on local Routes 300 and 17K. That means the 32,000 vehicles that travel between the interstates each day will no longer be entan
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SUPER ENHANCED PILOT TAKES FLIGHT |
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Orange County Industrial Development Agency (IDA) Chairman James Petro announced the approval of the new “Super Enhanced PILOT plan” at the May 2009 Board Meeting.
The new payment-in-lieu-of-taxes (P
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Healthcare Growth Spans Orange County |
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Crystal Run Healthcare has opened their new healthcare facility at 95 Crystal Run Road in the Town of Wallkill. The 127,000 SF facility began opening in stages beginning in July.
Specifically design
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DECEMBER, 2009: Savanna - Timing is Everything |
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Savanna Investment Management, LLC, a New York City based real estate investment and development firm, will enter a perfect storm of opportunity when it comes to availability and location on its new property. Hudson International Business Center (HIBC) was acquired in March of 2008 and is located at the northwest corner of the intersection of Route 747 and Interstate 84 in the Stewart International Airport corridor.
The 282-acre property is located in the Town of Montgomery and is currently undergoing the approval process for its planned business park. The plans call for 1.5 million SF of industrial flex space that will feature build-to-suit for purchase as well as for lease. The project will also accomodate single or multi-tenant uses.
The property has been the beneficiary of three large Department of Transportation projects over the past several years culminating in the ribbon cutting for the new Exit 17 I-87/I-84 interchange earlier in December. This interchange created easy exits and entrances for vehicles traveling on the NYS Thruway and Interstate 84. Prior to this construction, users had to exit to local roads before re-entering the highway system.
The new I-84 Exit 5A to Stewart International Airport at Drury Lane leads users to the new north/south, four-lane route, now designated Route 747, which in turn leads to International Boulevard, the main access road to the airport. This exit will give future HIBC tenants immediate access to the transportation hub of the entire northeast.
Savanna principal, Tom Farrell, states, “We have enjoyed very open dialog with Town of Mongomery officials as we have moved through the approval process. At this time, we have no users under contract and plan to react as the market develops. The site will require extensive site work and our hope is to conclude the approval process and begin in 2010.”
Savanna envisions the business park users as a mix of office, distribution space and light industrial manufacturing. The proximity and easy access to the airport and transportation system make the site a perfect fit for freight and air-related services. The company also owns a 350,000 SF warehouse in the Stewart International Airport Industrial Park which is leased to FedEx and cable manufacturer, Nexans.
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