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HDC says Kaz building sold, but does not release any details

Sep 09, 2021 12:55 pm

Sam Raudins reports in Columbia-Greene Media that the Hudson Development Corporation announced the sale of the Montgomery Street property known as the Kaz site on Sept. 8, though said it was too soon to announce virtually any details about the sale. The sale has been shrouded in secrecy, and the announcement did not include who is buying the property or what they will do there, in an area surrounded by industrial-type buildings. “(The) completion of this transaction will have placed five acres valued at $3 million onto the city’s tax rolls. Every citizen should applaud this, the mayor should award the Key to the City — it’s a huge thing,” Board president Robert Rasner said, without saying exactly who should get that key. The new owners will get $487,160 of Downtown Revitalization Initiative funds to take down the site’s warehouse, and that plan called for housing for students and young professionals, a job readiness pipeline program, and community college programming, to fill the space. “Every single buyer we’ve ever talked with will talk about mixed-use development, which means they would put some housing on the property, not cover the property entirely with housing, but it would be fair to say they are developing a new neighborhood and the amenities and services to go with a neighborhood,” said Rasner, who keeps hinting that the new owners will be familiar faces in Hudson. Read more about this story at HudsonValley360.com.