SYS-CON MEDIA Authors: Zakia Bouachraoui, Elizabeth White, Liz McMillan, William Schmarzo, Yeshim Deniz

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1600 Unit Residential Development Site Near Proposed Catskill Casino Resort Goes To Market

NEWBURGH, N.Y., Sept. 11, 2014 /PRNewswire-iReach/ -- The owners of the Rock Hill Town Center mixed-use development site located in the eastern portion of Sullivan County NY have just listed the 527-acre property for sale with Pyramid Brokerage Company of the Hudson Valley, a Cushman & Wakefield Alliance member.  The project started with the assemblage of 14 separate parcels commencing over a decade ago. The owners have completed the arduous process of having the development reviewed under the New York State Environmental Quality Review Act including the completion of a full Environmental Impact Statement.  This led to findings supporting the development of 1600 residential units and commercial development. The residential is a mix of apartments, townhomes and single-family residences.  The commercial calls for a 60,000 square foot retail village. The underlying environmental work gives the project's developer maximum flexibility to modify the mix of residential and commercial creating an opportunity for a unique and multifaceted site-plan.

Photo - http://photos.prnewswire.com/prnh/20140911/145414

With the potential of two Resort Casinos being approved this fall that are in close proximity to the development site, the owners believe now is the perfect time to market a project of this scope and magnitude.  The strong prospect exists that one of the two may be located less than a few short miles west of the proposed Rock Hill Town Center at the former Concord Hotel.   The projected full time job creation from even one Casino will exceed 5,000 full time hires and the current housing inventory in the region will not meet this demand. Added to this is a strengthening housing market in bordering Orange County that will only put further pressure to deliver newly constructed affordable housing units.

Given the complexities of the Catskill region with many land use restrictions borne out by either lands in state parks, watershed boundary areas or limitations due to difficult topography, the probability of a project of this size being replicated is very low.

The development site is uniquely located between exits 108 &109 of Interstate 86 with easy on/off highway access and high visibility from I-86. Over 27 million people live within 100 miles of the Rock Hill Town Center development site. The property is less than a 20-minute drive from Orange County's Main Commercial district and 35 minutes to Stewart International Airport and only 40 minutes to the world renowned Woodbury Common Premium Outlet.

 Sullivan County is experiencing a lot of interest both nationally as well as internationally as several prominent real estate projects have gotten underway. The expectation is for more large-scale developers to inquire about other real estate opportunities in Sullivan County, NY.

Media Contact: Peter Malone, Pyramid Brokerage Company of the Hudson Valley, LLC, 914-213-2863, [email protected]

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SOURCE Pyramid Brokerage Company of the Hudson Valley, LLC

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