Construction on the Galvan Depot District project in Hudson is expected to start by next summer. The Hudson Planning Board has already issued approvals for the proposed site plan of this mixed-use project to The Galvan Foundation, a nonprofit group based in Hudson. The Depot District project is estimated to cost around $40 million, but $8 million worth of tax exemptions have been approved by The Hudson Industrial Development Agency to offset the cost of development.Â
Galvan Depot District project to provide affordable housing
Development plans proposed for the Galvan Depot District project show two buildings which will rise as high as five stories and are positioned right across each other. The buildings will have a total of 138 apartments and provide commercial space spanning approximately 8,900 square feet. One of the two buildings will be located at 75th North 7th Street, while the other will be built at 708 State St.
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The building on 75th North 7th Street will consist of 75 apartments, which will be built as one-, two-, and three-bedroom units and rented out at prices ranging between $580 to $1,725. This Galvan Depot District project is aimed at providing affordable housing in the area, especially with the influx of new residents, entrepreneurs, and investors from New York over the past decade. According to the developers, thirty-four of apartments at the 75th North 7th Street building, will be restricted to people earning up to 50% of the area median, to bridge the gap in affordable housing.
The building on 708 State St. will consist of 63 apartments and this segment of the Galvan Depot District project will be developed as one-, two-, and three-bedroom residences, with rent prices ranging between $1,159 and $1,725. The apartments in this building are earmarked for people earning 80% or higher of the area median. Baxter, a Poughkeepsie-based construction and development company will be in charge of building this project.
In addition, the Galvan Depot District project will also cover the conversion of the historic Upper Hudson Train Depot into a craft brewery. The vice president of initiatives at the Galvan Foundation Dan Kent hinted that the construction on both buildings will commence in July 2022, with a target completion date set for January 2024.
