NEWBURGH – The Newburgh
City Council Monday night gave the nod to City Manager Michael Ciaravino
to negotiate a deal for the Poughkeepsie-based R.L. Baxter Building Corporation
to pump $2.7 million into the redevelopment of the long-vacant factory
building at 109 South William Street.
Baxter was one of six bidders for redevelopment.
The proposal would see a large restaurant on the first floor, commercial tenant space on the second floor and seven market-rate apartments on the third floor.
The plan received the unanimous support of the city council. Councilwoman Patty Sofokles said the project is indicative of the economic growth in Newburgh.
“To think there is going to be a restaurant and lofts and apartments on the third floor and it is going to be another property back on the tax rolls and that is one thing we have to think of because that is the only way we are going to lower taxes is to get properties on the tax rolls and get some kind of economic development,” Sofokles said.
The city took ownership of the building a year ago.
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