News
Schroeder’s may soon be home to beverage center
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| The site of the former Schroeder Chevrolet on Green Street in Hudson. (Robert Ragaini/Hudson-Catskill Newspapers) |
By Jamie Larson
The abandoned Schroeder Chevrolet building at 40 Green St. is closer than ever to being sold and converted into an active business.
Investors hope to turn the old car dealership into a beverage center, including a separate liquor store and bottle and can redemption center.
The pair of investors has already put down a $25,000 deposit with the current property holders, the Hudson Community Development Planning Agency, and have agreed to the terms of the contract, including the total price of $222,500.
Hudson Mayor and HCDPA Vice President Richard Scalera, and the still unidentified buyers’ broker, Harbalwant Singh, said that all that is left before the purchase of Schroeder’s goes through is for the buyers to do their due diligence on the building’s environmental impact. Scalera said there is no reason to believe that this final step will present a problem.
Singh said the buyers are two men, one from Sullivan County and another from Ohio.
He said the deal should move along quickly and expects to close on the purchase before the end of the year. A speedy closure would solve an outstanding issue in Hudson’s 2009 city budget. City officials wrote $200,000 into the budget as expected revenue from the sale of city owned property. Hudson has not yet been able to find buyers for its highest profile vacancies, the Washington Hose Fire House and the old Charles Williams school.
Scalera said $200,000 from the sale of Schroeder’s would go to the city’s general fund, with the HCDPA keeping the remainder.
City Treasurer Eileen Halloran, who is not a member of the HCDPA, said she is also pleased with the acquisition. She said that the sale, coupled with the recent emergence of three parties interested in purchasing Charles Williams, is a substantial financial security heading into 2010. Halloran said that the active market should serve as a positive sign during the recession.
“It shows that even in tough times there are people that see Hudson as a good idea,” Halloran said.
Scalera said while other parties have shown interest in purchasing Schroeder's in the past, this is the first time they have received a financial binder from an interested party. The buyers have also agreed to the contract stipulation that they will put up an additional $25,000 bond ensuring that Schroeder is opened as a retail business within two years.
Scalera also alluded the beverage center is estimated to bring eight to 12 new jobs to Hudson. “Our whole goal is to put property back on the tax rolls and create jobs,” Scalera said.
While the city has been trying to find buyers for its vacant buildings, Scalera gave credit to Ken Flood, director of Columbia County Planning and Economic Development, for pointing Singh in Hudson’s direction when the idea emerged. Singh is also heading the plan to create a hotel on Route 66 in Greenport. “This is a big part of Economic Development,” Flood said. “It’s all through networking and connections that bring development to the county.”
Flood said enhancing the development of the Green Street entrance of the city is good for the city and the county. He also said for all the talk of city and county officials being at odds with one another, this as an example of positive, less dramatic cooperation.
“The county and the city work together in many ways that people don’t always see,” he said.
To reach reporter Jamie Larson, call 518-828-1616, ext. 2269 or e-mail jlarson@registerstar.com.
Investors hope to turn the old car dealership into a beverage center, including a separate liquor store and bottle and can redemption center.
The pair of investors has already put down a $25,000 deposit with the current property holders, the Hudson Community Development Planning Agency, and have agreed to the terms of the contract, including the total price of $222,500.
Hudson Mayor and HCDPA Vice President Richard Scalera, and the still unidentified buyers’ broker, Harbalwant Singh, said that all that is left before the purchase of Schroeder’s goes through is for the buyers to do their due diligence on the building’s environmental impact. Scalera said there is no reason to believe that this final step will present a problem.
Singh said the buyers are two men, one from Sullivan County and another from Ohio.
He said the deal should move along quickly and expects to close on the purchase before the end of the year. A speedy closure would solve an outstanding issue in Hudson’s 2009 city budget. City officials wrote $200,000 into the budget as expected revenue from the sale of city owned property. Hudson has not yet been able to find buyers for its highest profile vacancies, the Washington Hose Fire House and the old Charles Williams school.
Scalera said $200,000 from the sale of Schroeder’s would go to the city’s general fund, with the HCDPA keeping the remainder.
City Treasurer Eileen Halloran, who is not a member of the HCDPA, said she is also pleased with the acquisition. She said that the sale, coupled with the recent emergence of three parties interested in purchasing Charles Williams, is a substantial financial security heading into 2010. Halloran said that the active market should serve as a positive sign during the recession.
“It shows that even in tough times there are people that see Hudson as a good idea,” Halloran said.
Scalera said while other parties have shown interest in purchasing Schroeder's in the past, this is the first time they have received a financial binder from an interested party. The buyers have also agreed to the contract stipulation that they will put up an additional $25,000 bond ensuring that Schroeder is opened as a retail business within two years.
Scalera also alluded the beverage center is estimated to bring eight to 12 new jobs to Hudson. “Our whole goal is to put property back on the tax rolls and create jobs,” Scalera said.
While the city has been trying to find buyers for its vacant buildings, Scalera gave credit to Ken Flood, director of Columbia County Planning and Economic Development, for pointing Singh in Hudson’s direction when the idea emerged. Singh is also heading the plan to create a hotel on Route 66 in Greenport. “This is a big part of Economic Development,” Flood said. “It’s all through networking and connections that bring development to the county.”
Flood said enhancing the development of the Green Street entrance of the city is good for the city and the county. He also said for all the talk of city and county officials being at odds with one another, this as an example of positive, less dramatic cooperation.
“The county and the city work together in many ways that people don’t always see,” he said.
To reach reporter Jamie Larson, call 518-828-1616, ext. 2269 or e-mail jlarson@registerstar.com.
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