Popular Searches
Print
E-mail
Comment
Rate
Share
Schroeder’s may soon be home to beverage center
 |
| 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.
Share this Article
 |
 |
|
| Referendum to increase library funding before voters | County expects word on One City Centre |
Article Rating
Reader Comments
The following are comments from the readers. In no way do they represent the view of registerstar.com.
HollyRock wrote on Oct 28, 2009 9:47 AM:
" I didn't realize that having yet another location for beer and liquor will help our community. Quite the opposite I think. We already have Pit Stop beverage why another beverage center close by? It is a shame that so many other businesses are struggling but to everyone else it seems okay to put a place to buy alcoholic beverages on a main street where kids walk. I wonder about their future as potential alcoholics. I guess everyone is really just thinking about the money. "
fantomg6 wrote on Oct 28, 2009 1:58 PM:
" I agree with HollyRock, we already have pit stop, We dont need another 2 beverage center's 2 miles apart from each other. "
Zoril46 wrote on Oct 29, 2009 12:50 AM:
" Wow I cannot believe it--a whole 8 to 12 jobs? I wonder what the other 1,000 people out of work in the city of Hudson will do?
The City of Hudson is only thinking of themselves and could careless about the residents. "
The City of Hudson is only thinking of themselves and could careless about the residents. "
Milesman wrote on Nov 11, 2009 3:09 PM:
" Honestly, I think it will be great to have new businesses and opportunities come into our town... It does NOT look good to have empty places in town... It costs us tax $$ not generated and it will deter future businesses from coming in to our town... Competition is NOT the purpose... Revenue and clearing out all vacancies is the #1 priority as it always should be!
$$$ talks and everything else walks!! "
$$$ talks and everything else walks!! "
You must register with a valid email to post comments. Only your Member ID will be posted with the comments.
Registered users sign in here: |
Become a Registered User |
american made wrote on Oct 28, 2009 6:25 AM:
The owners family members will fill these positions and sleep in the back room. Who are you trying to kid MR. Singh, local politicians? "