NEWBURGH – The Foundry condominiums in a converted industrial building in the City of Newburgh were never completed even though the project began years ago.
A new group, The Foundry Phase 3, L.P., is seeking financial incentives from the city’s industrial development agency to convert a shell structure into 59 condo units for rent.
Mayor Torrance Harvey said the city is behind the project.
“We feel like that property is underutilized. I know there were some vacancies and things that needed to be repaired over there. It sounds like a promising project. I know it was recently purchased,” he said.
The developers are seeking sales tax exemption, mortgage recording fee exemption and a real estate tax exemption.
