The walls of the old psych center came tumbling down on Wednesday
TOWN OF POUGHKEEPSIE – Redevelopment of the former Hudson River Psychiatric Center in the Town of Poughkeepsie began Wednesday as owners EFG/DRA LLC watched the first old building come down.
Hudson Heritage is a $250 million mixed use project consisting of 750 residential units including multi-family apartments, townhouses, and detached single-family homes with 350,000 square feet of neighborhood retail and 80,000 SF of hotel/hospitality space on the original 156-acres of the psych center.
Dutchess County Executive Marcus Molinaro said the project will provide another boost to the area economy.
“It will begin to transform the Hudson River Psych property into an amazing blend of open space, connection to recreation and tourist destinations with commercial investment and it’s a great opportunity for the Town of Poughkeepsie, Dutchess County and the Hudson Valley,” Molinaro said.
The vision of the project is for it “to become the cornerstone of the community – providing luxury accommodations, world-class shopping and adaptive reuse of historic structures that are connected to the rest of the Hudson Valley,” said Nicholas Minoia, managing partner of Diversified Realty Advisors.
When completed the project will create over 870 jobs in the community based on estimates. Another 297 jobs will be created during the construction phase.