August 2017 | Real Estate In-Depth | 13

special supplement FOCUS ON THE HUDSON VALLEY 14 | HUDSON VALLEY SUPPLEMENT Real Estate In-Depth | August 2017

The Hudson Valley’s Growing and Evolving Regional Economy A Conversation With HVEDC President and CEO Laurence P. Gottlieb By John Jordan NEW WINDSOR—Real Estate In-Depth senior advisor to CEOs, government higher education), Hudson Valley Play stand clearly their own strengths and recently sat down with Laurence P. Got- leaders and non-profit executives. In (amusement, gaming and recreational weaknesses because each county does tlieb, president and CEO of the Hudson his last position as Director of Economic industries) the Hudson Valley Economic have a different personality and has dif- Valley Economic Development Corpora- Development for Westchester County, Development Network (a cluster geared ferent assets. The second component Gottlieb was responsible for nearly to encourage continued business edu- is that you need all of us to pull together $500 million in new business expansion because the similarities are greater than and attraction projects, working with the differences. So, when you are com- high-profile firms including: PepsiCo, peting with other parts of the country in IBM, Atlas Air, Dannon, Sabra Dipping, trying to grow certain industries, people Acorda Therapeutics, OrthoNet, Regen- within those industries look towards eron and Lifetime Fitness. a healthy eco-system that is going to It was in his post as head of eco- nourish that industry rather than just nomic development in Westchester one-off, one business feeling isolated. County where he and then HVEDC And so when you point to some of President Mike Oates formed HVEDC’s the great success throughout first industry cluster: NY BioHud Valley the region, Regeneron (Pharmaceuti- cals) for example, Regeneron feeds off the region. The people that work for

cation and training to enhance econom- ic development throughout the region) and Talent (HVTalent). Real Estate In-Depth: Your organi- tion based in Goshen, to discuss the key zation’s main mission is based on the strengths of the Hudson Valley region concept of regionalism. Do you believe and how HVEDC is looking to grow the regionalism is a key to the growth of the regional economy. Hudson Valley and if so, can you give The HVEDC is a regional economic some examples of how individual coun- development organization whose mar- ties or municipalities have embraced ket area includes: Westchester, Rock- regionalism for the betterment of the land, Putnam, Orange, Ulster, Dutchess to market the region as a mecca for overall Hudson Valley economy? and Sullivan counties. biotechnology and biopharmaceutical Gottlieb: For regionalism to work and Gottlieb is a veteran economic de- firms. Since then, HVEDC has formed a work well you need two components. velopment specialist. Before joining number of other industry clusters: 3-D One is that you need each individual Regeneron live within the region. Re- HVEDC in February 2013, Gottlieb had Printing, (HV3D) the Food & Beverage county to feel and to know that they generon, when they talk about quality amassed 25 years of experience as a Alliance, EDs & MEDs (health care and have their own identity; that they under- Continued on page 16

‘So, How’s the Market?’ Our regions have been experiencing a decline in properties to choose from, which is forc- available listings for the past four years. There ing buyers to act almost immediately on available homes that fit their criteria.” were 12,153 active listings at the end of 2014, “Nationwide, low supply of available homes is an ongoing issue holding back compared to only 8,713 properties at the close activity, Yun noted. “Housing inventory declined last month and is a staggering of the second quarter of this year—a staggering 7.1% lower than a year ago.” Let’s first analyze our regions from decrease of 28.3%. These inventory levels are a statistical standpoint, which will shed some light on our current market condi- greatly contributing to our increases in prices tions. Throughout all our regions, the sec- throughout all our regions, as well as creating a ond quarter of 2017 brought us some long awaited price increases, in most strong buyer demand. property types. at 663, down from 856 one year ago. Our Westchester region shows list- ing inventory at the end of the second Rockland County experienced an in- in 2005, our last seller’s market. quarter of all residential property types, crease in median sale price of 2.6% and As with every market, certain condi- with a total of 4,359 active listings on followed the trend of decreasing inven- tions can bring some challenging situ- By Renee Zurlo the market, down from 5,105 for the tory with 1,358 total residential listings, ations that we need to be aware of. We HGMLS President same time period last year. In addition, down from 1,636 at the end of second need to constantly educate ourselves How many times per day are Realtors the second quarter brought a median quarter 2016. in order to provide the best possible asked the simple question: “How’s the sales price increase for single-family Our regions have been experiencing service and guide our clients and cus- market?” and exactly what answer do homes of 3.1%, while condos and co-ops a decline in avail- we give to satisfy our local, inquiring also saw an increase of 5.5% and 3.9% able listings for the Hudson Valley Single-Family ? Is it a simple answer or does respectively over last year. past four years. Home Prices the answer depend on who’s asking Orange County posted a second There were 12,153 Second Quarter 2017 the question or does it really vary from quarter increase in the single-family active listings at region to region? median sale price of 5.6% over last the end of 2014, County Price % Change According to the National Associa- year, which is certainly encouraging for compared to only 2016-2017 tion of Realtors, the statistical answer to a region that has been experiencing 8,713 properties our question would be that for June high sales volume, but flat prices for at the close of the Orange $235,000 +5.6% 2017, we saw an increase in pending quite some time. The end of the second second quarter of Putnam $345,000 +9.9% home sales, after three straight months quarter inventory for all residential prop- this year—a stag- Rockland $441, 387 +2.6% of declining activity. It’s a factual answer, erties in Orange County totaled 2,333, gering decrease Westchester $670,000 +3.1% but probably not informative enough to down from 2,806 for the same period of 28.3%. These in- satisfy most who are inquiring about our last year. The single-family, end of quar- ventory levels are current, local market conditions. ter inventory regestered less than 2,000 greatly contributing to our increases tomers through successful transactions. Lawrence Yun, chief economist for available homes. in prices throughout all our regions, as Most recently, I have been having the National Association of Realtors, is Putnam County’s median sales price well as creating a strong buyer demand. a lot of conversations and providing quoted as saying, “Market conditions increased significantly by 9.9% over As with national statistics, pending clarification on our HGMLS rules and in many areas (throughout the country) last year. Also significant was the end of sales are also up in all of our regions and regulations regarding disclosure of ac- continue to be fast paced, with few quarter total residential inventory level sales levels are back to what they were Continued on page 17 August 2017 | Real Estate In-Depth HUDSON VALLEY SUPPLEMENT | 15 Conference Reveals Economic ‘Disruptors’ Needs and Economic Impact

NEW PALTZ—Earlier this summer, the Stockade Football Club, a semi-profes- Hudson Valley Economic Develop- sional soccer team out of Kingston, NY ment Corp. staged what can only be that competes in the 4th division of the described as a unique and in retrospect US Soccer Pyramid. groundbreaking and definitely disrup- He began the discussion talking tive event. about the serendipitous ways in which HVEDC President and CEO Laurence “disruptive technologies” such as Four- Gottlieb, sans his usual business attire, square’s are born of necessity and led the event entitled “Disrupted: The demand, and grow into services that Future of the Hudson Valley Economy” people need and will continue to use. dressed in a polo shirt, sneakers and He recalled the infancy of , ball cap. The panelists, all online entre- which began as an application designed preneurs and executives with emerging so Crowley and his friends could most HVEDC President and CEO Laurence Gottlieb, second from left, tech-related ventures, also in casual at- simply and efficiently navigate their new moderated the panel discussion at the “Disrupted: The Future of tire, helped Gottlieb explore the needs post-college hometown of Manhattan. the Hudson Valley Economy” event held at SUNY New Paltz. of emerging tech companies, many Figuring his need might be a universal of which employ “alternative work ar- one, Crowley, the executive chairman of Hudson Valley Startup Fund is a world; they want their efforts to have rangements,” such as engaging free- Foursquare, quickly turned Foursquare $1.125-million member-managed seed meaning.” lance, on-call, temporary workers or into a consumer app whose growth was capital fund, launched in 2015. It has Kaposhilin has 20 years of experi- contractors. fueled by in-app advertising. committed more than $250,000 in two ence in most forms of technical and Gottlieb related that in the agen- “The general rule with a lot of this investments and continues to identify creative media production. Evolving cy’s conversations with executives stuff is just build something that you like, local scalable companies ready for in- Media Network is a team of web devel- in clusters such as biotech, food and you build something that your friends vestment. CLUBWAKA is a nationwide opers and creative media professionals beverage, 3-D printing, biotech and like, and there’s a pretty good chance social sports club serving 50,000-plus in the Hudson Valley. They have been healthcare, HVEDC has identified some that their friends will also like it and customers annually in more than 40 providing creative services and produc- emerging technological, demographic maybe their friends too, and that’s how cities across the U.S. Since its launch ing web applications, mobile apps and and workforce trends that must be ad- this stuff grows and grows organically,” in 1998 as The World Adult Kickball As- websites for more than 10 years from dressed if the region is to embrace the said Crowley. sociation (WAKA), LeHane has led the their headquarters in Kingston. He is new economy. Prior to Foursquare, Crowley found- development of technology platforms, also a co-founder of Hudson Valley According to research by economic ed , one of the first location- nationwide franchising programs, logis- Tech and Catskills Conf as well professors from Harvard and Princ- based mobile social services (acquired tics and digital marketing programs and as one of the organizers of the Kingston eton universities, 94% of the job growth by in 2005) and helped to build partnerships with global brands. Stockade FC. over the past 10 years has occurred in early location-based games PacManhat- “If we want to make a successful tech “The great thing about the Hudson alternative work environments. Pew tan and Conqwest. He has been named economy here in the Hudson Valley, we Valley is its quality of life,” said Axelrod. Research recently calculated that nearly one of Fortune’s “40 Under 40” and is a have to really embrace the essence of “With the Internet economy, it’s possible 72% of all Americans have used some member of Vanity Fair’s “New Establish- the Hudson Valley and the DNA of the to do anything here, locally.” type of shared or on-demand online ment.” He is currently an adjunct profes- people who are here,” said Kaposhilin. Axelrod graduated from SUNY New service. sor at New York University’s Interactive “That has a lot to do with agriculture, Paltz in 2016 with a bachelor of fine arts “All of these trends are starting to Telecommunications Program. community values and social justice. in graphic design and has experienced reshape everything we do in the Hud- “Foursquare offers some of the digi- The people we employ care about a wide range of work environments, son Valley,” Gottlieb said at the event tal world’s most powerful analytical and these issues. They want to work for a held at SUNY New Paltz. He added that predictive tools, so bringing Dennis company that’s creating meaning in the Continued on page 18 changing economic forces and disrup- Crowley’s industry-leading knowledge tive technologies will force us to “revisit and experience within the new, dis- how we tax, how we educate, how we ruptive economy to a Hudson Valley birth, how we bury. Everything is literally audience of business, community and changing around us and the question is academic leaders is a proud moment for “Monthly Commercial are we prepared?” our organization,” said Gottlieb,. “The The keynote speaker at the event, positive impact from today’s event will part of HVEDC’s Thought Leader Master be felt throughout the region for quite Real Estate Mixer” Series, was Dennis Crowley, co-founder some time, as just one conversation of Foursquare an online intelligence with HVEDC may have spurred an unex- technology firm that offers hosted tech- pected investment.” nology and data to build context-smart, The event also featured the Disrup- location-aware apps. Foursquare tech- tors Panel—a panel of regional tech and nology powers location data for Apple, gig-economy experts—which also took , , Microsoft, Samsung and a deep dive into developments in tech- 100,000 other developers. nology, demographics and the work- More than 50 million people use force. The panel consisted of Garnet Foursquare City Guide and Foursquare Heraman, founder of Anvil Venture Part- Swarm apps each month, across desk- ners and co-founder of Karina Dresses; top, , and mobile apps. The Melanie Axelrod, graphic designer; Kale firm recently surpassed more than 10 bil- Kaposhilin, co-founder of Hudson Valley lion check-ins, and sees an average of 9 Tech Meetup and co-founder of Evolv- million check-ins a day on Foursquare ing Media and Moonfarmer; and Johnny Swarm. LeHane, co-founder of CLUBWAKA and He told the more than 200 attendees managing partner of Hudson Valley at the conference that one of the chief Startup Fund. problems his firm and others like Four- The panel shared its experiences You’re invited to attend our rooftop event square have is hiring enough qualified operating in an increasingly tech-driven workers. Crowley then revealed that his marketplace. The gig economy has that will give you insight into the world of firm is contemplating opening an office created new opportunities for people in the Hudson Valley. to work in the environment of their Commercial Real Estate. “So, we have put together a job de- choice, on the projects that speak to scription for software engineers living in their values. Simultaneously, this new Entertainment - Education - Inspiration the Hudson Valley. We’re going to start economy has opened up opportunities circulating that job description today, to- for more traditional companies to ac- September 19th 5:00-8:00 p.m. morrow, the next couple of weeks,” said cess a broader talent pool, using free- Keller Williams Commercial, 120 Bloomingdale Rd. White Plains Crowley. “We’re going to see if we get a lancers to me bunch of qualified candidates to apply LeHane is a Hudson Valley native for it. If we can find four or five engineers who attended college for engineering Inquire and RSVP to [email protected] that fit the qualifications we’re looking and imagined landing one of the nine to for, and who raise their hands and say ‘I five jobs in the traditional economy, only Ask about our 50% Referral Program for Residential Agents. want to work in the Foursquare Hudson to find out they no longer existed. Valley office,’ then we will try to open an “Where does the Hudson Valley go Tony Mazzulli office up here.” from here?” LeHane asked. “We have Associate Real Estate Broker Foursquare employs more than 200 great starts in hubs like banking, and KW Commercial people between its headquarters in food and medical. I hope to see com- 120 Bloomingdale Rd New York and offices in San Francisco, panies launch here, and have the core White Plains, NY 10605 Chicago and Los Angeles, and teams in of their team here, but rely on that gig 914-437-6100 Atlanta, Detroit, London and Singapore. economy to employ people here and [email protected] Crowley is also founder of Kingston across the country.” 16 | HUDSON VALLEY SUPPLEMENT Real Estate In-Depth | August 2017 HVEDC President and CEO Laurence P. Gottlieb Continued from page 14 of life it is not just Westchester where tioned. We did very, very well coming phones. All of the sum total of that is a day or two to fill that position. We are the company is located, they talk about out of the recession and there are a lot investment—you have to reinvest back kind of moving beyond that and then the region. They will talk about the craft of reasons for that. But, we certainly in your business… you have other things happening like beverage (industry), the food, the farms, didn’t fall that far during the downturn, So we are doing quite well compared the Lyfts and the and the on-de- the hiking, the biking, the trails, the so the climb back up wasn’t as high as to many other regions in the state, but mand economy and opportunities there shopping and the restaurants. But, it is other parts of the country. The unem- for us to get to the next level is going and do those become the new low- ployment level in the Hudson Valley is to take significantly more investment— skilled jobs or do they become more if not the lowest, it is among the lowest greater investment in talent, infrastruc- higher-skilled based on the nature of in New York State, which means more ture, you name it, this is the investment those positions? We just don’t know yet. people are working and more compa- Real Estate In-Depth: An emerging nies are expanding in this area because sector in the Hudson Valley is a niche of the feeling that we are operating on tourism cluster that you have identified more accelerant than other parts of New as ‘Play,” which I understand covers York State. So there is something excit- a wide gamut of users, including the ing happening in the Hudson Valley. Resort World Catskills casino resort cur- With that said the challenge is always rently under construction, the possible when you get down to those low unem- development of LEGOLAND New York ployment levels is that clearly there are and a host of others. Can you quickly folks that feel disconnected from all the identify some of these major projects positives that are going on in the econ- and how this sector will benefit the re- omy. The question really becomes how gion as a whole in the future? you get those people that feel discon- Gottlieb: You mentioned some of nected, connected somehow into the the great projects currently underway. economy and has your unemployment I don’t think people fully comprehend level reached such a low number that the level of which this becomes an eco- companies end up being challenged nomic multiplier for the region and why in terms of 1) finding talent and 2) when these projects are so critical. You are you have low unemployment rates, talking about the transformation of the wages will increase and so can compa- Route 17 corridor into one of the most nies afford to again reset wage levels exciting corridors in the whole North- for their companies to be able to find period right now. east corridor. That is an amazing trans- the talent and pay them what the talent Real Estate In-Depth: At your recent formation. I think people kind of look not limited to Westchester County, it is is asking for? Disruptor event, one overarching theme at it piecemeal. They see Woodbury really a regional perspective, especially On top of that the technological from the program seemed a genuine Common (Premium Outlet), they see the when it comes to quality of life. So, the changes that are going on present an- need by both conventional businesses gaming resort (Resorts World Catskills best part of regionalism is pulling out other challenge. We are starting to go as well as the new emerging high-tech casino) and they see LEGOLAND New those components, which nourish both through this period where competition companies to attract key talent? Will York as separate pieces, but really they the individual counties and those indus- is heating up. The need to invest heav- that be one of your key initiatives going kind of meld together into a compre- tries and the businesses within those ily in new technologies is hitting a new forward at HVEDC? hensive piece. So it becomes far more industries. cycle. And you see this in the broader Gottlieb: The reason we launched a regional asset and even a Northeast Real Estate In-Depth: How do you economy, but now you are starting to the Hudson Valley Talent initiative was asset than just these individual projects see the Hudson Valley economy per- see that more in the local and regional to bring up the issue of talent. We saw that are doing well by themselves. And forming right now and what are the economies—even small businesses this happening quite some time ago so the offshoots of that are very exciting major impediments to its growth? needing to be part of mobile commerce and before it was being covered in the because that is going to feed the craft Gottlieb: Specific to this very mo- are redesigning their websites so that newspapers and before it was being beverage, the specialty food, hospitality, ment in time we are very well posi- they work more efficiently on mobile discussed throughout the region, a lot other shopping venues and the Walk- of the mantra for the past few years has way over the Hudson. been: “Jobs, Jobs, Jobs” and so for the You add to that the more nuanced past two years I would say, three years pieces. Other existing assets start to re- even, we have been going out saying invest in themselves, for example, like we need to start moving from Jobs, the Castle in Chester, just down the road Jobs, Jobs to “Talent, Talent, Talent.” it (from the proposed LEGOLAND New Is really about skills development and York project), is making investments really fine-tuning the individuals that are in new buildings and new things that out there to make sure they have the people will enjoy there. I don’t know if skill sets to fill those open positions. And they would have made that investment there are a fair amount of open posi- if these other pieces weren’t coming tions out there. together. Normally in economic development a You also start to get new hotels and lot of the discussion is bring in a compa- with hotels come gas stations, Quick- ny to create jobs, well at some point you Marts and other facilities. Then health then get to a situation where you have care doubles down because they see a lot of unfilled jobs and the question an expansion of the worker base, then is who are filling those jobs—Hudson there’s workforce housing and the new Valley residents or people coming from workers that live in those new homes outside the area finding employment? spend money. Real Estate In-Depth: What type of Then you look over in Dutchess jobs are open right now? County at the Sports Kingdome project Gottlieb: There are a lot of jobs open (currently under construction in East in health care. There are a lot of jobs Fishkill). Anyone that has children that open in the IT (information technology) are in athletics are always dying, es- area. You dig down into engineering pecially in the wintertime, for practice firms, into advanced manufacturing fields. The Kingdome project is one of where there is a greater skill set re- the largest in the country, not just the quired, STEM-based companies are Hudson Valley. So, you are going to looking for people with STEM-based have thousands of people coming from careers. pretty far stretches to use that facility. Then there are those industries that And so that becomes a game changer… are growing, the culinary area for exam- Editor’s Note: Gottlieb also men- ple, thousands of jobs are going to be tioned other notable projects in Ulster open over the next few years because County, such as actress Mary Stewart more places are offering food than they Masterson’s proposal to develop televi- did before. If you think about it, every sion and film studios in Kingston, as well supermarket now is opening up a full as a health wellness center resort at fresh food area. Where are the cooks the former Nevele resort as other major coming from to fill those positions? The projects in the works. requirements for these positions re- You start to see all these pieces and quire culinary training, not just, “Here is again HVEDC’s job is to always look at how you work the fryer.” You are talking the bigger picture as to how all these about more advanced culinary skills and pieces are coming together versus just where is that talent coming from? separate projects. The clusters that we So it is becoming more nuanced that have developed are to look at things ho- just here is a job opening and some- listically rather than just one-off projects. body with limited skill can be trained in August 2017 | Real Estate In-Depth HUDSON VALLEY SUPPLEMENT | 17

Hudson Valley Acquires Taste For Craft Brewing Food and Beverage Sector Becoming Key Economic Driver By John Jordan The food and beverage sector, part areas. These businesses usually require state legislation and economic incen- which will begin at noon, will feature the of the leisure and hospitality industry, significant investment to convert former tives, including the creation of the Farm former co-founder of Brooklyn Brewery is growing across New York State and industrial or retail space to accom- Brewery License in 2012, providing tax and current co-founder and president particularly in the Hudson Valley region. modate its specialized equipment and credits for brewers, modernizing the of Brooklyn-based New York Distilling other needs. state’s Alcoholic Beverage Control Law, Company as its keynote speaker, along Many of these and providing promotional funding. with a special one-on-two interview recently opened The Hudson Valley Economic De- with celebrity beverage entrepreneurs, breweries/restau- velopment Corp. has recognized both Lynette and Adam Carolla of Carolla rants are helping the food and beverage and craft beer Drinks. transform down- industries as prime areas for growth The award-winning summit, devel- towns in the Hud- in the region. In recognition of its im- oped by HVEDC as part of its Hudson son Valley into portance to the regional economy, Valley Food & Beverage Alliance, is the destinations that HVEDC will hold its fifth Annual Hudson largest education event of its kind in are attractive to Valley Beer, Wine, Spirits & Cider Sum- New York and has consistently drawn the highly sought mit on Oct. 12 at The Culinary Institute crowds of 500 or more. It is the region’s after Millennial de- of America in Hyde Park. The event, Continued on page 18 mographic. These establishments are also helping Region Becoming a Gaming, attract multifamily Craft brewing is a growing industry in New York State and the development firms Hudson Valley. that are now build- Recreation Destination ing major projects The Hudson Valley has its share in cities such as Yonkers, New Rochelle By John Jordan of movers and shakers in the food and White Plains, which are being mar- A new emerging sector of the Hudson Valley’s economy is taking shape and and beverage field, such as PepsiCo, keted to Millennials both inside and out- 2018 could be a landmark moment in time when the region, known for its highly Heineken and Danone to name just side the Hudson Valley region. popular tourism destinations and quality of life, will see a new $1.2-billion casino a few. Other growing local players in The popularity of craft brewing has resort open its doors in Sullivan County. In addition, if municipal approvals are this field include: Best Mexican, Gillette not been lost on New York State and secured, construction could begin next year on the $500-million LEGOLAND New Creamery, Harney & Son’s Tea, Sabra Hudson Valley economic development York theme park in Orange County. Dipping, Satin Fine Foods and Man- officials. Officials with Empire Resorts announced recently that its Resorts World Catskills hattan Beer Distributors. Some other Recently, New York State conducted casino resort will open for business in March 2018. The development, currently recognizable names that have made in- the “Taste NY Inaugural Craft Beer under construction in the Town of Thompson will feature an 18-story casino, hotel vestments in the Hudson Valley include Challenge. In May, Gov. Andrew Cuomo and entertainment complex with approximately 100,000 square feet of casino floor, Angry Orchard, which began operations announced that Sullivan County-based more than100 table games, 2,150 state of the art slot machines, a poker room and in 2015 in Walden, and Amy’s Kitchen, Roscoe Beer Co. and Brewery Omme- private gaming salons. Guest amenities at the resort will include 332 all-suite luxury which will soon break ground on its new gang of Cooperstown were the winners rooms, which include 12 penthouse suites, eight garden suites and seven two-story project in Goshen. of the contest. villas, two indoor pools, a spa and fitness center—all designed to meet 5-star and The leisure and hospitality industry The two craft brewers won the con- 5-diamond standards. Guests will be able to choose from over 10 varied bar and added an impressive 37,300 jobs in test following a blind taste test featuring restaurant experiences, including fine dining, and an Italian steakhouse created by New York State between June 2016 and the five New York State breweries that celebrity chef Scott Conant. Guest can also enjoy year-round live entertainment at June 2017, ranking third behind educa- received the most online votes in the the more than 2,000-seat event center, casino bars, restaurants and lounges. tional and health services and profes- challenge. The destination resort will also include an entertainment village that is scheduled sional and building services industries, Governor Cuomo said, “New York's to open in late 2018, which will provide additional entertainment, food and accom- according to the New York State Depart- craft breweries are not only a source modations. A Rees Jones-redesigned golf course is expected to open in the spring ment of Labor. Officials with the Hudson of local pride, but they create jobs and of 2019. In addition, the destination resort will include an indoor waterpark lodge. Valley Economic Development Corp. drive tourism in every corner of the The development has employed well over 1,000 construction workers since it note that the food and beverage sector state. No state has done more to assist broke ground. has created $27 billion in economic im- and promote craft manufacturing than Empire Resorts, the parent company of Resorts World Catskills, has promised pact in New York State and continues to New York, because we know that when that its development would seek to hire resort workers from throughout the region. experience consistent growth. our businesses succeeds, all of New Recently, the gaming concern fulfilled its promise when it announced it would be A niche sector in the food and bever- York succeeds.” operating three casino dealer schools in Sullivan, Orange and Ulster counties. The age trades that has emerged in recent The Taste NY Inaugural Craft Beer dealer schools will be used to train people to enable them to apply for table games years is the craft brewing industry. Busi- Challenge was launched on May 2nd dealer positions at Resorts World Catskills. The schools will be located in Monticello ness such as Newburgh Brewing Co., and invited New Yorkers to vote for in Sullivan County, Stewart Airport in New Windsor in Orange County and Ellenville Captain Lawrence, Yonkers Brewing their favorite New York craft brewery in in Ulster County. All table game classes will be free of charge for students. Equilibrium Brewery, Peekskill Brewery celebration of the diversity, range, and In advance of the dealer school openings, Resorts World Catskills held infor- and Clemson Brothers Brewery have quality of New York’s craft beer industry. mation sessions in the three Hudson Valley counties to provide details about the all made their marks in their respective More than 170 breweries signed up to casino dealer schools and the manner in which interested individuals may register areas and some have even marketed participate, and more than 42,000 votes for classes. Resorts World Catskills expects to hire approximately 600 dealers prior their products to discerning palates were cast online. to opening its doors to the public in March 2018. elsewhere. New York State is now home to 321 People who register for dealer school will be provided 20 hours of training per The economic benefits of craft brew- microbreweries, farm breweries, and week for a minimum of six weeks for core games such as blackjack, poker, baccarat ing businesses have caused some restaurant breweries, up from only 50 and roulette. Additional training will be required for more complex games. Once municipalities to amend regulations total breweries in 2011 and represent- training is successfully completed, students can apply, and will have to interview to allow these establishments in their ing a 542% growth in the industry. This and audition, for table game dealer positions. downtown districts and or industrial growth was fostered through a series of The new casino resort will compliment the already highly successful Empire City Casino in Yonkers, one of the largest entertainment and gaming destinations in the Northeast. The facility features 5,300 slots machines and electronic table games. Empire City Casino also offers guests year-round harness racing and International simulcasting, live entertainment, restaurants and more. ‘So, How’s the Market?’ If plans are approved, the Hudson Valley will also see the start of construction Continued from page 14 next year on a major theme park destination. In early August, the $500-million cepted offers, how to handle multiple of- our clients and ourselves. LEGOLAND New York project continued to progress in the municipal approval fer situations, under what circumstances So, how’s the market? process. The LEGOLAND New York project calls for a theme park with more than and at what point can a contract status This truly is a great market. Our re- 50 rides, shows and attractions and a 250-room LEGOLAND Hotel. The theme park be changed back to active status. Other gions are experiencing a good, healthy will be geared toward families with children aged two to 12 and is expected to at- challenges have been appraisal issues real estate climate and all indications tract between 1.5 million and 2.5 million visitors each year. and educating sellers that although the are there that these positives will re- The project that would involve building a children’s theme park on 153 acres current market conditions are in their main steady, with price appreciation of the 523 acres of land controlled by Merlin Entertainments adjoining Route 17 in favor, there is still a need to price ac- and increasing sales growth continuing Goshen still has a number of hurdles to clear before construction can begin. The cordingly. through the end of the year. project is expected to create approximately 800 construction jobs and 500 full-time Let’s keep in mind that we have not That’s my answer, and I’m sticking jobs and 300 part-time jobs once operational. been in a seller’s market such as the with it! A key component of the proposal is the developer paying for the lion’s share of one we are currently in for more than Renee Zurlo is 2017 President of an estimated $40 million of roadway improvements on Route 17 to improve access 10 years. Some agents, although they the Hudson Gateway Multiple Listing to the theme park. The developer will initially invest $350 million in the develop- may have handled many transactions Service, Inc. The veteran Realtor is also ment and a total of more than $500 million over the first five years of the theme park in their career, I believe have not expe- a licensed New York State Real Estate and resort’s operation. rienced the challenges we now have in Broker and serves as regional manager In late 2015, the Hudson Valley Economic Development Corp. in recognition of this seller’s market. Let’s continue to ask for Better Homes and Gardens Rand Re- the tremendous growth potential gaming and emerging indoor/outdoor recreation questions when in doubt and use the re- alty and is based at the brokerage firm’s and amusement industries have in the Hudson Valley, launched the PLAY cluster sources available to us to educate both Central Valley office. initiative. 18 | HUDSON VALLEY SUPPLEMENT Real Estate In-Depth | August 2017

Evolving Medical Technology Impacting Industry Healthcare Providers Investing Heavily in Hudson Valley By John Jordan The health sector is experiencing sig- as Westchester Medical Center, Or- The West- nificant changes and growth throughout ange Regional Medical Center, Catskill chester Medi- New York State and in the Hudson Val- Regional Medical Center, White Plains c a l C e n t e r ley in terms of new jobs, new technol- Hospital and others have undertaken Health Net- major capital projects to increase their work, which is services in their respective markets. undertaking a In addition, major healthcare services $230-million firms such as WestMed Medical Group expansion of and Crystal Run Healthcare have re- its facilities at cently expanded their operations in the its Westches- region. ter Medical The largest healthcare project cur- Center cam- rently underway is Vassar Brothers pus in Valhal- Medical Center’s new patient pavilion, la, announced which broke ground on Sept. 13, 2016. last year that The $466-million project involves the it would be in- An architect’s rendering of the Patient Pavilion at Vassar Brothers construction of a new 696,000-square- Michael Dunn, senior vice presi- vesting more Medical Center. foot patient pavilion that is scheduled to dent, innovation development, t h a n $ 1 7 0 open in 2019. Georgia Pacific, was the keynote million in its Designed by architectural firm Cal- speaker at HVEDC’s 2nd Annual network facilities in Port Jervis and industry and the economy now and in lisonRTKL, the patient pavilion will when EDs and MEDs Summit held at Kingston. the future. completed include a spacious lobby, Marist College earlier this year. Another significant project underway The Hudson Valley Economic Devel- an emergency department and trauma is the Hospital for Special Surgery’s new opment Corp. explored those issues this center with 66 treatment rooms, state- outpatient facility at 1133 Westchester past spring at its 2nd Annual EDs and ogy and new investment. of-the-art operating suites, a 30-bed Ave. in White Plains. A ribbon cutting MEDs Summit held at Marist College. According to the latest statistics from critical care unit, 264 private patient is expected in Octoberfor the new The insightful summit highlighted the New York State Department of La- rooms, a rooftop helistop, a 300-seat 50,000-square-foot facility that will be how rapidly evolving medical technol- bor, the educational and health services conference center, a café and more. HSS’ largest outpatient center to-date ogy is changing the health care indus- sector ranked first statewide in terms Vassar Medical Center President Ann and will employ approximately 20 full- try—and innovative entrepreneurs of jobs gains, adding 67,000 positions McMackin at the 12th annual State of the time support employees in addition to and business owners are creating new between June 2016 to June 2017. Medical Center Community Breakfast physicians when it first opens its doors. business opportunities that will likely Area hospitals as well as healthcare on May 9, said, “People are voting with HSS Westchester will offer medical change the industry for the long term. service providers have invested in tech- their feet, choosing to stay here, close to services, imaging and a full spectrum of “The bottom line is that health care is nology as well as significant bricks and their families, saying ‘Take me to Vassar’ rehabilitation services. changing—and what the industry looks mortar projects in the Hudson Valley. when it comes to their healthcare.” Another critical aspect of health care like five or 10 years from now will be The industry has also been strength- Françoise Dunefsky, president of the services in the Hudson Valley is the very different from what we are seeing ened by partnerships with major New Vassar Brothers Medical Center Board changes in technology and health care today,” said HVEDC President and CEO York City and other regional healthcare of Trustees, added, “By continuing to advances that will continue impact the Continued on next page providers such as Montefiore Health invest in the best people, services, System, New York Presbyterian Hospi- education and facilities, we are send- tal and Westchester Medical Center to ing a strong message that no one has name a few. to leave the area to receive excellent Economic ‘Disruptors’ Major healthcare institutions such healthcare.” Continued from page 15 from old-school corporate to remote development in the U.S. and abroad start-up. Axelrod found most of the (Canada, United Kingdom and India). environments lacked appeal and is Anvil Venture Partners in New York City now working successfully as a full-time provides capital and consulting services freelancer. to help startups accelerate from seed “Everything I’ve done between 1996 to scaling. Heraman is investor in resi- and now pretty much proves that disrup- dence at the Hudson Valley Advanced tion has become the norm,” said Hera- Manufacturing Center Business Build man. “A lot of it has to do with basically Program at SUNY New Paltz. He is also taking disruption as the new norm and co-owner of Karina Dresses, a Hudson really understanding how things are Valley ecommerce company. Heraman going to get out to the marketplace by is an angel investor, board member or partnering with the right people, espe- venture advisor with numerous success- cially corporations.” ful startups including: Dynepic, IOKids, Heraman is a seasoned investor with MetroButler, Urban Trials, StrongArm 25 years of experience in early stage Technologies and Biba Ventures. ventures, business strategy and brand

Food and Beverage Sector Becoming Key Economic Driver Continued from page 17 premier industry forum and networking or considering entering the business. Let US help finance your opportunity for professionals in the al- We expect an outstanding turnout yet coholic beverage business. Attendees again, if the trends over the last several dream of home ownership. will experience a wide variety of innova- years are any indication.” tive, interactive programming and enjoy The event will also feature an historic As an integral part of the Hudson Valley since 1851, tastings of many regionally produced first for the Summit, as Gottlieb will inter- products. view Carolla Drinks CEO Lynette Carolla Ulster Savings has a long and reputable history of Potter has created award-winning in the main hall, while her husband (co- products such as Dorothy Parker Gin, median, best-selling author and podcast providing the means for homeownership. We’ve Ragtime Rye Whiskey and Mr. Katz’s pioneer) Adam Carolla will -in live financed thousands of loans and have the expertise Rock & Rye. Potter serves on the boards from his West Coast-based, state-of-the- of the Brooklyn Roasting Company and art digital broadcast studio. to help you find a mortgage that’s right for you! Ample Hills Creamery, both of which As the founders of Carolla Drinks, are based in Brooklyn and are regional the Carollas also own Carolla Digital, Contact US today for a FREE prequalification! leaders in their market segments. producing many of iTunes’ top podcast “This is truly a celebration of the programs including The Adam Carolla incredible, positive impact HVEDC Show, which distributes nearly 30 mil- and this special summit has had on the lion downloads a month. The interview Hudson Valley’s craft beverage industry, will take place at 4 p.m. which continues seeing tremendous “We anticipate another successful NMLS# 619306 growth,” said Laurence P. Gottlieb, event this year, and encourage people president and CEO of HVEDC. “We to make plans as soon as possible to Locations throughout the Hudson Valley. MEMBER are extremely proud to host what has come and check it out, because this is (866) 440-0391 • ulstersavings.com FDIC become the must-attend educational a free educational event, but seating is event for anyone who is in the industry limited,” said Gottlieb. August 2017 | Real Estate In-Depth HUDSON VALLEY SUPPLEMENT | 19

patients don’t fall through the cracks. with using theirs. There are so many Healthcare Providers We can help do this with technology. possibilities.” Continued from previous page The continuum of care needs to be a “Our entire medical school is built on larger continuum. We want to decrease technology,” said Kenneth Steier, DO, Laurence P. Gottlieb. “Health care or- the regional health care community, col- the total spent and have all patients be executive dean and chief academic ganizations and postsecondary institu- leges and universities, medical schools, in the most comfortable surroundings.” officer at TouroCOM-New York, who tions will need to make key investments home health care providers and others, Health care providers are incorpo- provided examples of the college’s 3D to keep pace with the technological who shared insights on how regional rating more technology and emerging anatomy systems and robotic patients. advancements that are happening now community colleges and four-year in- best practices to improve the level and “We can create just about any medi- and will continue to take shape in the stitutions in the Hudson Valley will con- efficiency of care they deliver to their cal emergency with technology. The coming decade. There are business op- tinue to serve as the backbone of the patients. These changes are impacting students are so technically based and portunities, and today’s event provided health care industry, despite the chal- organizations from the bottom up, influ- oriented. It’s all about technology and an interactive forum upon which we can lenges posed by changes in technology encing their hiring processes, employee I know our students will be ready for it.” evolve those discussions into action.” and the profession overall. training and the background and train- The HVEDC summit also featured With all these changes occurring “Community colleges are very criti- ing they look for in new hires. This all keynote speaker Michael Dunn, senior so rapidly, it will be critically important cal in providing the workforce for a amounts to significant investments that vice president, innovation development, for public and private high schools, traditional medical model workforce,” go beyond technology and affect nearly Georgia Pacific, who noted that trends community colleges and universities said Pamela Edington, EdD, president every aspect of a hospital or clinic’s such as mobile health, economies of to invest in programs, instructors, ad- at SUNY Dutchess. “We are the first operations. scale, drive-through health care, hand vanced technology and new teaching step in their medical practice journey. “We’re looking at all technologies hygiene compliance, consumerism and methodologies that will shape the next And when it comes to technology, the we can provide to support the patient at automation of care will be main driv- generation of health care professionals, answer is through partnership and col- home,” said Mary Gadomski, director of ers in healthcare. Apps and connected Gottlieb added. laboration.” business development at Visiting Nurse devices will be used to deliver data that “Some of our challenges are trying to “Will we be repurposing workers Services in Westchester, Inc. “People will be used to improved healthcare predict where technology is going and or developing a whole, new class of are waking up to home care and how security, safety and wellness. Expanded what it will look like 10 to 15 years from workers?” added Kristine Young, EdD, important home care will be in the fu- beyond that are wearable devices like now,” said Robert Friedberg, president president of SUNY Orange. “Naviga- ture. We need nurses who have critical Google Project Jacquard, “e-skin” ap- & CEO of Health Quest. “We also spend tors and telehealth keep coming up. It’s thinking skills. We look for that individual parel like Xenoma and even watch-like a lot of time and energy figuring out how hard for community colleges to get out who is self-directed and we support devices like Heartisans, which uses al- to put information into our systems. But ahead of the curve but we want to be them with technology.” gorithms to predict cardiac arrest. our ability to extract it is limited. The responsible for the changing needs of “We’re not replacing clinical training, “It’s about being smart and under- most important opportunity we have is the community.” we’re augmenting it with technology,” standing the data and knowing how to how do we use that information? That’s Representatives from several health said Kathleen S. Lill, MS, PA-C, director use it,” said Dunn, noting augmented the challenge we’re all experiencing care providers focused on creating a of Marist College’s Physician Assistant and virtual reality is becoming of age. today.” more seamless transition between the Program, noting the many electronic “What are the things you need to be “Today, it’s so critical to have a bias in hospital room to the home for patients, platforms used by the college. “If the prepared for? And all the data becomes finding talent that understand innova- ensuring that both the initial handoff and community is comfortable with our tech- available using analytics and the cloud.” tion and doing things differently,” said short- and long-term care is as efficient nology, our students will be comfortable Joseph DiCarlo, MBA, senior vice presi- and effective as possible. Because care dent and director of human resources at is becoming increasingly accessible WESTMED Practice Partners. “There’s from one’s home, the location where two words I share with new hires: Being people interact with the health care sec- To SUBSCRIBE to nice and being smart. We define ‘smart’ tor is changing in substantial ways. as no matter what your role is, do you “You see patients who fall through approach your job with how to do things the cracks and have bad outcomes,” IN-DEPTH differently? That’s what’s valued. The said Virginia Feldman, MD, CEO and status quo is unacceptable.” co-founder at Nexus Health Resources. The summit featured a panel discus- “With the Affordable Care Act, it’s about Call 914-681-0833 sion that included industry leaders from what’s spent and it’s about making sure

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Dr. Robert Amler, Vice President for Government Mr. Jon Dorf, Managing Partner, Mr. Ronald Hicks, Assistant County Executive Mr. Jeremy L. Schulman, President and CEO, Affairs, New York Medical College Dorf & Nelson LLP Dutchess County Rockland Economic Development Corp.. Mr. Marc Baez, President and CEO, Mr. Robert Dyson, Chairman, Mr. Mark Kastner, President and Principal, Mr. James P. Smith Jr., Founder and CEO, Sullivan County Partnership The Dyson Foundation The Chazen Companies Advance Testing Company Inc. Mr. Robert Bracco, Senior Director, Mr. Sean Eldridge, Founder, Mr. Robert J. Levine, Esq., Partner, Mr. Josh Sommers, President and CEO, Business Process Management & Strategy, Hudson River Ventures Corrigan, Baker & Levine, LLC Focus Media Chairman of the Board Pfizer Global Manufacturing Mr. Jeremy Ellenbogen, President and CEO, Dr. Kenneth Steier, Executive Dean and Chief Mr. Timothy Cawley, President and CEO, Ellenbogen Creative Media Mr. Ralph A. Martinelli, Vice President, Academic Officer Touro College of Osteopathic Today Media Orange and Rockland Utilities, Inc. Mr. Bruce Feniger, General Manager, Medicine-New York Mr. Joseph Commisso, Group Vice President, Pamal Broadcasting Mr. Michael L. Mosher, President and CEO, Mr. Mark Stellwag, Group Vice President, Central Hudson Gas & Electric Corp. Corporate Finance,Mediacom Communications Mr. Jason Finkelberg, President, Chief Revenue M&T Bank Mr. John Cooney Jr., President, Officer, Hudson Valley and Danbury, Conn., Mr. Thomas M. Mulroy, Chairman and CEO, Mr. Steven Turk, President, Tilcon New York Inc. Town Square Media T-Rex Capital Group, LLC Turk Hospitality Group/Rocking Horse Ranch Mr. Charles Degliomini, Executive Vice President Dr. Daniel Freedman, Dean/Director, Mr. Mario R. Nacinovich Jr., Managing Partner, Ms. Jill Varricchio, President, of Government Affairs and Corporate SUNY New Paltz School of Science and Engineering/ AXON Communications Putnam County Economic Development Corp. Communications, Hudson Valley Advanced Manufacturing Center Mr. Chris O’Callaghan, Managing Director, Mr. Daniel G. Walsh, Partner, Empire Resorts/Montreign Resort Casino Mr. Anthony B. Gioffre III, Partner, Jones Lang LaSalle Belowich & Walsh LLP Mr. Vincent DeLucia, Executive Vice President, Cuddy and Feder LLP Mr. George Oros, Director of Economic Development Mr. Mark P. Weingarten, Partner, DelBello Donnellan President NY Suburban Markets, Mr. Frank Giordano III, CPA, Partner, Westchester County, Office of County Executive Weingarten Wise & Wiederkehr LLP Sterling National Bank Judelson, Giordano & Siegel, CPA, PC Ms. Adele B. Reiter, Chief of Staff, Mr. Peter G. Wilcox, Senior Director of Government Mr. Philip Derasmo, Regional Vice President, Ms. Maureen Halahan, President and CEO, Office of Ulster County Executive Affairs,PepsiCo TD Bank Orange County Partnership Mr. Joseph M. Rizzo, Manager, Ms. Teresita Wisell, Vice President and Dean of Ms. Joanne Deyo, Vice President Facilities, Mr. Louis Heimbach, Chairman, Economic Development Rochester Gas Workforce Development and Community Education, Regeneron Pharmaceuticals, Inc. Orange County Trust Company and Electric Corp. Westchester Community College

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