Collins says he needs to talk to Westchester County, which ownsa neighboring property on some matters and will then submit plansto the city for what would be phase three of the Hudson Parkproject. He adds that he hopes to be able to begin construction onthe third phase within a year.

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Hudson Park South, a $75-million, 266-unit development, wascompleted in 2003 and is now virtually 100% leased. The$125-million Hudson Park North or phase two broke ground in Sept.2006 and is now complete. The Hudson Park North developmentconsists of 294 rental units. Dwight Collins, vice president ofCollins Enterprises, says that in just 30 days of marketing theproperty, the firm has signed 43 leases.

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"Today is a milestone event not only for our company but for theCity of Yonkers," Arthur Collins says. "The completion of HudsonPark is the realization of a dream that began more than 10 yearsago when we first began plans to turn a vacant industrial site intoa successful residential community."

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Yonkers Mayor Phil Amicone also spoke at the ribbon-cuttingevent and praised the Collins organization for being the pioneerswho "saw the potential in this city." The mayor notes, "Rebuildinga city on the scale of what we're doing here in Yonkers requires areal partnership between government and the private sector, and nocompany has been more committed to our vision for a thriving,destination waterfront like Collins Enterprises. Arthur and DwightCollins were the first investors willing to put millions of dollarsat stake in our downtown and there's no question that theirinvestment has paid off both for their company and for the City ofYonkers."

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When Collins Enterprises first proposed Hudson Park 10 yearsago, there was little if any private investment interest in thedowntown/waterfront district. Today, the city has a developmentpipeline in the billions of dollars, including the $1.5-billionwaterfront revitalization plan being proposed by a partnership ofCappelli Enterprises, Fidelco Realty and Struever Bros. Eccles& Rouse that is in the final stages of the approvalprocess.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.