October 22, 2019 | Connect – Commercial Real Estate
News in Detail
Hines Acquires Piece of $1B MXU on Hudson Riverfront
The development team at the $1-billion Edge-on-Hudson mixed-use project in Sleepy Hollow, NY reached agreement with Hines to develop 246 luxury apartments in Phase Two of the project along the banks of the Hudson River. Hines acquired Parcel F of the development for an undisclosed sum in order to build the apartments.
The new apartments will be located at the entrance of Edge-on-Hudson, located a block from the river’s edge. Townhomes in Phase One are already under construction.
“Edge-on-Hudson has every attribute we seek in a successful development, including superb transit access and an extraordinary setting, including the vibrant Village of Sleepy Hollow,” said Tommy Craig, Hines tristate office head.
Located on the site of a former General Motors assembly plant 25 miles north of New York City, Edge-on-Hudson is a joint venture of SunCal and Diversified Realty Advisors. It will include office, retail and hotel components, along with residential.