Peekskill, NY Earlier this year, the city was selected by the Mid-Hudson Regional Economic Development Council to receive a $10 million award through the states Downtown Revitalization Initiative (DRI). The Peekskill DRI Local Planning Committee (LPC) has issued an open call for project proposals to seek proposals for privately sponsored projects to be considered for DRI funding. All requirements for submissions can be found at: https://www.peekskilldri.com/news-1. Project submissions should be emailed to [email protected] by December 6th, 2019.
The consultant team will hold “office hours” to discuss questions about potential submissions on Wednesday, November 20th from 3 to 5pm at Peekskill City Hall, 840 Main St., in the first floor conference room. In addition, applicants may submit questions on the Open Call via email by November 22nd, 2019 at 4 pm. Please visit www.PeekskillDRI.com for more information
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,