NEWBURGH, NY—The long-delayed retail project at Route 300 here is set to begin construction in earnest this spring and the developer says approximately 80% of the 650,000-square-foot development now called the “LOOP-Hudson Valley” has been leased.
Tom Wilder, principal of The Wilder Companies of Boston, at a press conference held at the Orange County Accelerator in New Windsor, NY on Thursday, announced five anchor lease deals—Dick's Sporting Goods, 50,000 square feet; Field & Stream, 50,000 square feet; BJ's Wholesale Club, 88,000 square feet; Shop Rite, 65,000 square feet; and Michael's, 22,000 square feet.
All of the retailers with the exception of the Michael's store will be new locations. Michael's will relocate from leased space nearby in the Town of Newburgh.
The developer of the project is a venture of Wilder-Balter Partners of Elmsford, NY and The Wilder Cos. The firms have had no prior affiliation prior to their partnership on the project that until recently had been known as The Marketplace.
In addition to the signed anchor stores, the LOOP is on track to include a multi-screen theater, home goods, fitness, and lifestyle retailers, as well as a variety of contemporary dining experiences, Wilder says. More than 50 stores, restaurants, and entertainment venue are slated for the LOOP-Hudson Valley.
"The LOOP-Hudson Valley has received a warm reception from the Town of Newburgh and Orange County," said Wilder. "We are grateful for the support we have received from the elected officials, economic development experts, and many local resources with whom we've been working. Like us, they recognized the gap in retail services available in this area and are working with us to fill that niche. The LOOP is a family-friendly, community-friendly shopping experience, and we look forward to being a part of the Orange County community.”
Wilder said that site work was completely recently and construction would begin in earnest in the early spring of 2015 with a projected opening in mid to late 2016.
The LOOP-Hudson Valley is projected to create 1,000 construction jobs during the course of site development and construction and more than 1,000 permanent management and sales positions through the tenant locations.
In addition to the LOOP-Hudson Valley, there are two LOOP locations in the Orlando/Kissimmee, FL area, and one in Methuen, MA.
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