Ginsburg Breaks Ground on $65M Waterfront Project

OSSINING, NY—Adjacent to the storied Sing-Sing Correctional Facility, officials with the Village of Ossining and Ginsburg Development Companies of Valhalla, NY broke ground on the long anticipated $65-million Harbor Square development on Wednesday.

Harbor Square, when completed, will feature 188-rental apartment units, a 5,000-square-foot destination waterfront restaurant, a new Hudson River park, a promenade and a children's playground. A total of 10% of the rental units will be dedicated as affordable workforce housing and will be priced for those making up to 80% of the Westchester County median income. The building will total five-and-a-half stories over 1.5 stories of parking.

Village of Ossining Mayor William R. Hanauer said that the Harbor Square project is a signal of the ongoing revitalization of the village. “We are excited to see this project finally come to fruition after years of careful planning and an unavoidable delay due to the economic downturn. Now we look forward to the future and the many positive impacts that Harbor Square will bring to our village,” he said.

Construction has already commenced with piles being driven to facilitate the installation of poles 150 feet deep for the building's foundation.

The Harbor Square project was originally proposed by Westchester County developer Louis Cappelli after his firm secured the site from the Village of Ossining in an RFP. Cappelli later asked the Ginsburg firm to partner on the project and the two companies broke ground on the venture on a cold, rainy day on Feb. 28, 2006. The project at the time called for 150 condominium units and 10,000 square feet of retail space.

GDC Principal Martin Ginsburg at the groundbreaking yesterday thanked Cappelli for his work on the venture over the years, although the project is now being solely developed by the Ginsburg firm. AIG is providing financing for the Harbor Square project.

“We have another opportunity here to turn a former industrial brownfield site into an important riverfront attraction and economic driver for the Village of Ossining,” Ginsburg said. “The residential building at Harbor Square will be unique to this marketplace, with world-class architectural style, beautiful interior design and finishes, unparalleled amenities including a rooftop pool, fitness center and exciting spa as well as full concierge services.”

The project is the first new Hudson River waterfront development the now multi-family developer has built in more than 12 years. Westchester Deputy County Executive Kevin Plunkett, filling in for Westchester County Executive and Republican gubernatorial candidate Robert Astorino, spoke at the event and noted that the project received approximately $2.3 million from the Westchester County Industrial Development Agency in sales and mortgage tax exemptions.

GDC, which began operations 50 years ago as an apartment developer, has returned to its roots, after developing a host of condominium townhome communities in the New York metro area. The firm has built more than 35 luxury residential projects in the region. At present, the company has begun construction on two other major developments in the region—the 330-unit River Club development in Yonkers and a 110-unit rental building at its Harbors at Haverstraw community in Rockland County. To date, 330 units have been built at that riverfront community. The company is also pursing a 66-unit development along the Saw Mill River in Hastings-on-Hudson.