Business & Tech
Developers Close on Purchase of Former General Motors Site in Sleepy Hollow
The property will become a mixed-use site with residential and commercial developments.
The long-gestating development project at the former General Motors site in Sleepy Hollow took a major step forward with the recent closing of the $39.5 million sale of the vacant property, village officials announced.
Sleepy Hollow Mayor Ken Wray posted news of the closing on the village’s website, and included a webpage of documents about the site.
The nearly 100-acre waterfront site will become a massive mixed-use development with more than 1,000 residential units, a hotel and commercial space. The developers are two firms, Diversifed Realty Advisors of New Jersey and SunCal of California, both of which were selected by the village in summer of 2013.
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“This is Sleepy Hollow turning permanently from its industrial past,” Wray told The Journal News. “In many, many ways it’s going to shape the future of the village. It feels really good to have GM in our rear view mirror.”
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