- Project
- Northeast
- Town/City/Village
- Funding and Grant Writing
- Real Estate Development and Housing
The Challenge
Flach Development’s South River Street Redevelopment consists of the transformation of multiple historic buildings and waterfront property into a 12,000-square-foot restaurant and event center as well as a boutique hotel.
The project’s goal is to reinvigorate Coxsackie’s waterfront area and create a lively environment that supports local jobs and attracts visitors. This large-scale project will require significant private investment on behalf of the developer.
The Solution
To ensure project feasibility Camoin Associates was retained to assess the potential for success in the market.
Camoin Associates completed a market analysis and financial pro forma analysis, the results of which indicated that the project was feasible.
Camoin Associates then used the results of these analyses as supporting documentation in the completion of a 2019 New York State Consolidated Funding Application (CFA).
The Impact
Following the submission of the CFA, New York’s Capital Region Economic Development Council identified the South River Street Redevelopment as one of its 12 priority projects.
In December 2019, Flach Development was notified they were awarded a $2 million grant from Empire State Development to complete their catalytic project. Flach Development then retained Camoin Associates as part of the team for the management and administration of the grant.
