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HDC puts sale of Kaz warehouse site on hold

Oct 01, 2021 5:45 am

Sam Raudins is reporting for Columbia-Greene Media the sale of the former Kaz warehouse site on Montgomery Street in Hudson's 1st Ward, has been put on hold, the Hudson Development Corporation announced at its meeting September 28. The HDC signed off on the sale in early September, sending the contract on to the unidentified buyer for final approval. However, the board is still awaiting a response. “It’s the buyer’s investors [who] wanted to see some additional paperwork,” HDC board member Paul Barrett said. The remainder of the discussion about the sale was held behind closed doors, in executive session. Because the sale is pending, the HDC has not identified the buyer nor disclosed the sale price of the property. HDC board president Robert Rasner said he sees “no reason” for the buyer not to sign the contract of sale because there has been an agreement on contract language, terms and conditions. It remains unclear what the buyer intends to do with the land, but Rasner said the buyer has “plans and dreams for a new Hudson neighborhood.” Read the full story at HudsonValley360 [dot] com.