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GDC Plans to Transform Former Convent Site in Peekskill into Tourist Destination with Spa, Inn, Restaurant, Apartments and Townhomes

$50 Million Plan is 5th New Development for GDC in the Hudson Valley

PEEKSKILL, NY (June 2015) – Building on the momentum of the launch its GDC Rentals brand, Ginsburg Development Companies (GDC) has announced plans to transform the former St. Mary’s Convent property overlooking the Hudson River in Peekskill into a resort-style tourist destination that would feature a spa, inn and restaurant as well as 178 luxury rentals apartments and 20 townhomes.

Called Fort Hill, the $50 million project would convert the existing convent into a spa, restaurant and inn. The apartments would be located in three buildings arranged in a quad around a wooded knoll. The new buildings, up to five stories high, would complement the existing stone-and-brick structures, which were designed by prominent architects of the 1800s.

The 20 townhomes would be built along Main Street between Spring and Hadden streets. Garages for the homes would face an interior court, so that the buildings present attractive facades to the streets. The restaurant would feature outdoor dining with river views. Fort Hill Park will be enhanced by the donation of over 50 acres and will feature a variety of hiking trails. They will be enhanced and extended with new features that could include a lookout tower with breathtaking views of the Hudson River.

“People have been talking about tourism for years, but nobody is creating destinations. Nobody is creating the places that people will want to stay while they enjoy the beauty and history of Historic Peekskill with its many attractions,” Ginsburg said. “This will be the type of destination we need in the Hudson Valley. People will come from New York City and even farther away. And while they’re staying here, they’ll visit other areas nearby,” said Martin Ginsberg, Principal of GDC. “We plan to preserve the existing historical architecture on the site and to combine it with new architecture and trails to create a very special inn and a unique destination for the Hudson River Valley,” he added. GDC’s plan was presented to the Peekskill Common Council on June 15.

The Fort Hill project is GDC’s latest residential project in the Hudson Valley. Earlier this month, in Rockland County, GDC opened Riverside at Harbors-at-Haverstraw, a 106-unit luxury rental building on the Hudson River. In May, Ginsburg broke ground on The Lofts on Saw Mill River, a $34.9-million development of 66 loft-style rental apartments in the Village of Hastings-on-Hudson. Last year, GDC began construction of Harbor Square, a 188-unit luxury rental development on the Ossining waterfront, and River Tides at Greystone, a 330-unit luxury rental complex overlooking the Hudson in Yonkers.

GDC and Yonkers Officials Celebrate ‘Topping Off’ of River Tides at Greystone

From left, Yonkers Mayor Mike Spano; GDC Principal Martin Ginsburg and Yonkers City Council President Liam McLaughlin

YONKERS, NY (November 2, 2016) – Ginsburg Development Companies (GDC) today joined with Yonkers Mayor Mike Spano along with other city officials and dignitaries to celebrate the “topping off” of River Tides at Greystone, a new 330-unit luxury rental building featuring resort-class amenities and spectacular views of the Hudson River and Palisades.

The topping off, which marks the completion of the final floor and roof of the north tower, was celebrated with the raising of a giant American flag along the side of the 10-story building. Joining in the festivities were more than 100 construction workers who are working on the $100 million project.

“Today’s ceremony is yet another milestone for the GDC Rentals brand of luxury rentals with resort-style amenities, which we launched just two years ago with the groundbreaking of this project. Since then we have successfully completed luxury rental communities in Haverstraw, Ossining and Hastings-on-Hudson. And another GDC rental is under construction just a block north of this property,” said GDC Principal Martin Ginsburg. “Returning home to River Tides will feel like coming home to vacation every day, fully delivering on the GDC Rentals brand promise,” he added.

“Today we place the finishing touches at River Tides, a project that will certainly establish Greystone as one of the premier apartment neighborhoods in Yonkers and Westchester,” said Yonkers Mayor Mike Spano. “I applaud Ginsburg Development Companies for its unwavering commitment and investment in Yonkers and look forward to the ribbon cutting!”

Located in a quiet residential neighborhood on Warburton Avenue near the Hastings-on-Hudson city line, River Tides at Greystone features a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with spectacular river views. The apartments feature stainless steel appliances, Euro-style cabinetry, stone countertops, bay windows and terraces. Monthly rents range from $1,495 for a studio to $4,995 for a corner penthouse apartment Occupancy is scheduled for Spring 2017.

Luxury amenities at Rivers Tides at Greystone include 24 hour front desk concierge service, elegant two-story lobby, club lounge; fitness center with available personal trainers, spa center with yoga classes and licensed massage therapists; and a spectacular resort-style swimming pool and deck with cabana seating, seven barbeque stations, playground and outdoor firepit lounge. As a transit oriented development, River Tides at Greystone has a direct walkway to the nearby Greystone Metro-North station which is just a 30-minute commute to Grand Central.

River Tides at Greystone is the latest GDC luxury rental development to open in Westchester. In recent months, GDC celebrated the grand openings of Harbor Square in Ossining and The Lofts on Saw Mill River in Hastings-on-Hudson. Both offer luxury rentals with first-class amenities which are the hallmark of GDC’s resort-style residences. GDC recently broke ground on 1177@Greystone, a new 55-unit luxury rental apartment building located one block north of River Tides in the Greystone neighborhood of Yonkers.

For more information about River Tides at Greystone and other GDC Rentals, please visit www.gdcrentals.com.

Officials Join with GDC to Celebrate Grand Opening of The Lofts on Saw Mill River

From left Hastings-on-Hudson Village Mayor Peter Swiderski, GDC Principal Martin Ginsburg; and Westchester County Executive Robert P. Astorino

Second GDC Rentals Development to Open in Less Than 3 Months  

HASTINGS-ON-HUDON, NY (September 26, 2016) – Ginsburg Development Companies continues to expand its GDC Rentals brand in Westchester County with the grand opening of The Lofts on Saw Mill River, a $34.9-million luxury rental development in the Village of Hastings-on-Hudson.

County and Village officials joined with GDC executives today for a ribbon-cutting ceremony at the new development located at 419 Saw Mill River Road (Route 9A). The Lofts at Saw Mill River features 66 loft-style rental apartments in three buildings. Two 3-story buildings each include 27 units and one 2-story building includes 12 affordable workforce housing units. The 12 affordable units count towards the affordable units mandated by the County’s affordable housing settlement with the federal government.

Monthly rentals for the market rate apartments range from $2,900 for a large one-bedroom unit (950 SF) to $5,000 for the largest 3-bedroom unit (1,656 SF). The affordable units range from $874 for a studio to $1,484 for a three-bedroom unit. Of the 12 affordable units, three will be available for households earning up to 50 percent area median income (AMI) and nine for households up to 60 percent AMI.

“Today’s grand opening of The Lofts on Saw Mill River completes a journey that began more than a decade ago when we first acquired this site. What was once a former industrial parking lot has now been transformed into an attractive community of contemporary loft-style rental apartments as well as much-needed affordable workforce housing,” said Martin Ginsburg, Principal of GDC. “We are particularly pleased to dedicate to the Village beautiful open space for the public to enjoy,” he added. GDC has dedicated 1.8 acres of “Great Lawn” to the Village and created for the public a pedestrian bridge to the South County Trailway, which runs by the property.

“The financial incentives provided to Ginsburg Development Companies by the Westchester IDA helped make this wonderful project a reality. In addition to creating construction jobs, The Lofts at Saw Mill River is adding to the vitality of Westchester’s economy with high quality rental apartments including affordable units,” said Westchester County Executive Robert P. Astorino.

GDC received financial incentives for the development from the Westchester County Industrial Development Agency (IDA). The project also received financial support from the County for land acquisition and infrastructure.

“Ginsburg’s high-quality developments are always an asset to a community – and Hastings will benefit both from the addition of these new high-end rentals as well as the provision of a dozen units at affordable rates,” said Hastings-on-Hudson Village Mayor Peter Swiderski.

The Lofts at Saw Mill River is GDC’s second new luxury rental development to open in less than three months. In July, GDC opened Harbor Square, a 188-unit luxury rental development on the Ossining waterfront. Harbor Square is already more than 50 percent leased. GDC is nearing completion of River Tides at Greystone, a 330-unit luxury rental complex overlooking the Hudson River in Yonkers. River Tides at Greystone is scheduled to begin leasing in January 2017. Earlier this month, GDC broke ground on 1177@Greystone, a new 55-unit luxury rental apartment building located on Warburton Avenue in Yonkers, one block north of River Tides at Greystone.

“The demand of luxury rentals in the Westchester market continues to grow with millennials as well as empty-nesters looking to live in a community with resort-style amenities and services as well as easy access to mass transit. The level of high quality finishes and design featured in our apartments is unlike anything being offered in the region’s rental market,” said Mr. Ginsburg.

GDC is fully committed to Equal Housing Opportunity and we fully comply with the Federal Fair Housing Act. We do not discriminate against any person because of race, color, religion, sex, disability, familial status, or national origin. All applications are judged on the same standards; Income Verification, Rental History, Credit History and a Criminal Background Check, one person or family at a time, on a first come first serve basis.