News: Brokerage

Orange County Chamber board passes resolution supporting LEGOLAND

Goshen, NY The Board of Directors of the Orange County Chamber of Commerce recently passed a resolution supporting the proposed LEGOLAND New York project.

The resolution states, “The Orange County Chamber of Commerce hereby gives full support to the LEGOLAND New York project proposed to be located in the town of Goshen as it would offer the greatest economic benefit to our entire region, bringing millions of dollars in economic growth and hundreds of jobs.”

It is estimated that the proposed LEGOLAND New York theme park will create 800 construction jobs, 500 full-time jobs, 300 part-time jobs and 500 seasonal jobs.

It would be the eighth LEGOLAND theme park worldwide and plans include a 250-bed hotel.

The proposed LEGOLAND New York site currently generates a total of $91,000 in property taxes.

LEGOLAND New York would make guaranteed PILOT payments of $1.4 million annually beginning the first year the park is open and $52 million over the course of 30 years. Approximately $38 million of these funds will go to the Goshen Central School District.

“This project will create unprecedented benefits for the town of Goshen, the Goshen Central School District and Orange County,” said Lynn Allen Cione, president of the Orange County Chamber. “LEGOLAND New York presents a unique opportunity that we will not see again.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,