Hochul calls Coxsackie development 'transformative'
Oct 16, 2020 5:45 am
Melanie Lekocevic is reporting for Columbia-Greene Media in a tour of development sites in in the region recently Lt. Gov. Kathy Hochul toured the multi-million dollar project in downtown Coxsackie, calling the project "transformative." Hochul said of the South River Street Development project in downtown Coxsackie, “I see a lot of projects around the state and I can tell you right now, this is spectacular.” Local developer Aaron Flach received a $2 million grant from Empire State Development to fund The Wire wedding and event center and the Newbury Hotel, which are Phase 1 of the multi-phase project. The project, which will ultimately bring the wedding and event center, high-end hotel, spa, restaurant, storefronts and apartment building to the South River Street area, is projected to drive economic development in the area. In addition to state grant funds, the project received tax incentives from the Greene County Industrial Development Agency, including a sales and use tax exemption, mortgage tax exemption, and a Payment in Lieu of Taxes, or PILOT agreement, IDA Executive Director Rene Van Schaack said. The Wire takes its name from State Wire and Cable, the company that once occupied the building. The Newbury hotel is named after James Newbury, the building’s original owner when it was a machine shop in 1903, developer Flach said. The facility is expected to open in June 2021, along with a new restaurant to be housed at the former Patrick Henry’s Tavern. Read the full story in The Ravena News-Herald.