"This project represents an outstanding opportunity to develop a community that would help restore one of upstate New York's most historic towns," Teicher comments. "Port Jervis once stood as a major hub for the extensive Erie Railroad system and this new mixed-use community will be located just steps from one of the nation's few remaining turntables--a popular railroad device from yesteryear that is quickly becoming extinct."
Teicher officials say they expect construction to begin in the fall of 2006. No estimates of the development cost were released.
Riverside at Port Jervis is being developed as part of Teicher's American Communities portfolio, a collection of developments that concentrates on the rebuilding of modern metropolitan areas to significantly improve existing urban communities throughout the northeast, company officials say.
In addition to the local project, the firm will be undertaking the redevelopment of the Salvation Army building in Asbury Park, NJ. Also part of its American Communities portfolio will be the Kingston Uptown Garage Redevelopment project in Ulster County. The firm is currently involved in preliminary studies for the venture that calls for the redevelopment of a city-owned garage in Kingston into a multi-unit condominium complex that will also contain a new public parking facility.
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