$500 Million Hudson Valley Construction Project Breaks Ground
Bellefield at Historic Hyde Park is a project that has been many years in the making. When completed, this $500 million project will add a series of hotels, shops, restaurants and housing to the Route 9 corridor. According to a press release, the project has broken ground on the $60 million first phase of development.
The development, located right across from the Culinary Institute of America is expected to add tourism and funds to the local tax base. The first phase includes construction of a 133 room hotel as well as the property's infrastructure like roads, sewer, water treatment and electric. The 340-acre community will eventually include a working farm and overall, 48 acres will be devoted to agriculture.
The project is adding employment to the area as well with 550 construction jobs added during the duration of the project and 369 full-time permanent jobs added when completed. When it comes to the tax contribution, $118 million in state, county and town tax revenue is expected to be generated over 10 years.
The project is happening, let us know your thoughts in the comment section. Will this be good for Hyde Park?