Hudson Place – Case Study
In July of 2019, we were brought on by developer and property owner Brad Scott to construct brand new, luxury two-bedroom apartments in Highland, just across the river from our home base in Poughkeepsie. Mr. Scott was in search of a partner that would invest not only expertise, but a personal interest in the project. Given our construction-first, development-second mindset and our reputation for completing projects on-time and on-budget, we were thrilled to step in and get to work.
The plans for Hudson Place included 72 units across 12 buildings, on a total of 16 acres. An additional nine acres were to be kept as a private natural conservation area with a pond. In addition to the apartments, the rest of the project would include a clubhouse with a gym, workspace, covered pavilion and storage space. All in all, we were thrilled to bring this kind of residential project to Ulster County.
We first helped Mr. Scott develop the most efficient budget for the project using our expertise in value engineering. Once all the details were hammered out, construction on Hudson Place first began in October of 2019. Highland was the perfect location for these new apartments, as it has abundant amenities for residents and visitors to enjoy.
As the first luxury property to be built in the Highlands’s Gateway Overlay Zone, Hudson Place fits into a landscape where both business and residential development is encouraged. It’s a commuter-friendly location situated on State Route 9W, at the Mid Hudson Bridge approach, and within minutes of State Route 299 and the NY State Thruway. The property also borders the Rail Trail and is within feet of the Walkway Over the Hudson State Park, providing walking and biking access to MetroNorth.
Most importantly, Hudson Place filled in a need for housing in the Highland community. Even during construction, these apartments were in high demand—they were rented out as the buildings were completed, with renters moving in before we could even break out the dustpan. The virtually nonexistent vacancy rate of this project proved a need for this kind of housing in Ulster County, and we were thrilled to be a part of the solution.
Nuts & Bolts
When COVID-19 first shut down the world in March of 2020, we were in the middle of construction on the Hudson Place apartments. In the weeks and months following the initial shock of the pandemic, a slew of obstacles cropped up in the construction world: materials were unobtainable, and for the materials still in stock, prices were drastically increasing. Workers were also quickly becoming unavailable, and the general outlook for countless construction projects across the globe grew very grim.
Yet, we were able to keep our project on-budget and on-track with our timeline, turning over one building every 3.5 weeks throughout the pandemic. How?
Using our expertise in value engineering and pricing, we strategically bought out the entirety of our required materials at the onset of the project, protecting us from the future price increases and material shortages that came along with the pandemic. Though it’s not the typical approach, we bought out flooring and finishes before the foundation was even poured—and that’s what made all the difference.
The luxury apartments at Hudson Place were completed in December 2021, and the clubhouse was completed in January of 2022. Each 1,100 square-foot apartment boasts nine-foot ceilings, two bedrooms and one bathroom, a full-size washer and dryer in-unit, quartz countertops, a beautiful kitchen with an island, Energy Star-rated appliances, and a covered porch or patio.
Future residents of Hudson Place will have access to the quaint center of town as well as the shopping opportunities immediately outside of it. However, one of the most beautiful aspects of the Highland location is its connectedness to nature. There are numerous local and state parks along with many Scenic Hudson investments in open natural areas. Residents and visitors have unfettered access to lands from the Hudson River to the Illinois Mountain, and the Black Creek and Chodikee Lake in between.
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