OSSINING, N.Y. – After slowing to a crawl earlier this year, Ossining’s proposed Harbor Square could be ready for construction as soon as spring 2013.
Developer Martin Ginsburg presented newly revised plans for the condominium and retail buildings during the village of Ossining’s work session Tuesday night. Ginsburg and co-developer Louis Cappelli previously received affirmative votes from the village board in 2005 to construct a 180-unit condominium complex and retail buildings along the Hudson River, adjacent to the village train station.
Ginsburg told village officials Tuesday that finances for the project should be order later this year and that “major construction” should be under way by March 2013. He said he was recently able to come to an agreement with Prudential Financial to provide finance assistance on the project.
“We have a term sheet with Prudential as our co-developer on the project,” Ginsburg said Tuesday night. “They will be our financial partner. That is no small accomplishment in today’s world.”
“We want to make this a landmark building,” he said. “We have a design in place and we think we have a superior site plan.”
Construction on the planned One Harbor Square riverfront condominiums began in 2008 with workers putting in some piles to prepare the construction site. But construction stalled for more than three years because of economic setbacks. Village Planner Valerie Monastra said work is under way to further prepare the construction site through shoreline stabilization grant contracts from the Department of Environmental Conservation.
“Harbor Square (representatives) are still working with the planning board on technical review, and we hope to have those elements wrapped up in the next few months,” Monastra said.
Village Mayor William Hanauer praised Ginsburg for moving forward with the project.
“One general comment is thank you very much for moving ahead with this project and getting this thing moving again, because it was painfully slow for a long time,” Hanuer said Tuesday night. “The building looks a lot better now.”
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