Ossining revises plans for Hudson River industrial project

Real Estate Weekly, Jan 9, 2002

The Ossining Village Board presented significantly revised plans for a redevelopment proposal for a former industrial area on the Hudson River, adjacent to the village's Metro North train station and passenger ferry dock. Under the new plan, 60 percent of the 4.5-acre site will be publicly accessible open space.

The new plan for Harbor Square reflects the extensive input received from the public during the public hearings on the plan held earlier this year. In addition to the significant increase in publicly accessible open space, the new plan protects the views of the Hudson from the train station and other vantage points.

The new plan combines a 30 percent increase in open space with a 20 percent reduction in the number of housing units. The number of housing units to be built has been cut from 225 to 180, with 10 percent of the apartments designated as "affordable."

The Village Board said that the revised plan was reached after months of business negotiations with the project's developer, Cappelli Enterprises. In addition to providing new public amenities, it will yield a substantial financial return to the village. The village had assembled the site by acquiring several industrial properties from private owners. The public amenities will be funded and maintained in perpetuity by the developer.

Upon completion, Harbor Square will provide $4.9 million in revenue payments m lieu of taxes over 10 years. The payment in lieu of taxes (PILOT) agreement provides for an escalation in the payments that is tied to any increase in the national Consumer Price Index (CPI).

The new plan was designed by DiMella Shaffer Associates, Architects and Planners, of Boston. Peter Shaffer, a senior principal of the firm, said that "Our goal in designing Harbor Square was to return the waterfront to the community while simultaneously incorporating buildings into the plan that include mixed-uses which will provide vitality to the development. Similar goals have been accomplished in communities, both large and small, across the United States. Ossining has a beautiful waterfront on the Hudson River, and we have worked to accomplish a revitalization that will provide both beautiful open space along with two architecturally appropriate 'wharf-style' buildings."

The new buildings will be constructed on the northeast portion of the property. Shaffer said that they have been "positioned perpendicularly to the Hudson River to preserve the views of the river that are now available from the adjacent Metro North train station and other locations."