Last Saturday, Gossips reported that the Galvan Foundation had acquired the buildings at Warren and Fourth streets that had been owned for close to twenty years by Richard Cohen. Today, this press release was received from the Galvan Foundation, announcing the acquisition and its plans for the buildings. The press release began with this head: "The Hudson Public: Hospitality, Artist's Residence, Minority Social Enterprise."
Galvan Foundation announces the acquisition of 10-12 North Fourth Street and 402-406 Warren Street. Galvan plans to develop the corner site into The Hudson Public, a 30 room hotel with ground floor commercial space fronting North Fourth and Warren Streets.
Galvan is developing the hotel in response to the growing need for centrally-located hospitality options, resulting from the City of Hudson's Short Term Rental Law. The Hudson Public will also function as an "artist's residence" for artists performing in Hudson.
The Hudson Public will be among the first minority developed, owned, and operated hospitality venues in the city of Hudson. The Hudson Public will prioritize diverse and local hiring as well as commercial leasing.
Galvan Partners, LLC will provide gratis planning and development services.
The press release was accompanied by this image.
Eric with his dreams' What are the chances of me getting a grant / Pilot for this adventure. Strugeling Artists that the way to go' Well its time to let him know that he may as well stop dreaming about Gallowayville. The real citizens of Hudson are tired of his Pies in the Sky.
ReplyDeleteFascinating news !
ReplyDeleteCohen tried to make that dump into a hotel but every professional he engaged with told him there wasn't enough square footage to make it a profitable venture .
Wonder whats up Galvans sleeve ...
It wasnt always a dump however. I was given a tour before Cohen gutted the place. Upstairs were four fabU 19th c apartments with parlors and bedrooms - the fifth apt was an attic garret in its original whitewashed board walls.
DeleteInteresting. Something that brings tax revenue and jobs? They are going to operate it as well? Under the same non-profit?
ReplyDeleteWhat’s the catch?
Taking valuable and scarce Warren Street properties off the tax rolls while seeking multiple PILOTS for subsidized rental housing. The camel’s back will soon be broken — whose property will be paying taxes? Seems as if Galway and his minions are milking the working people in this city to play social engineer.
ReplyDeleteYou say social engineer as if the endeavor has a social good as the fuel in its engine, and not profit.
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ReplyDeleteHow is it that Galvan Partners can't find the time to renovate the Foundation's properties in the City, but they have time to "plan and develop" a new hotel?
ReplyDeleteAnd two large apartment buildings on 7th Street...
DeleteIt’s worth noting that the argument around short term rentals is often framed as a solution to affordable housing shortages (which are real, and deserve real solutions), but are actually largely financed by the hotel industry. It is interesting to note that in a year when short term rentals have practically been abolished in Hudson we have a large number of new hotel projects in the works. It’s also worth noting that the average hotel price in Hudson is often hundreds of dollars higher per night than the average Airbnb. This is one more instance when this past years leadership have shown a huge lack of professionalism and understanding of economics, community development, and public policy. The lack of support received by the small business community at the start of the pandemic contributed to the closing of many of our smallest businesses, only to be replaced by still higher end businesses. These factors are actually contributing to the exacerbation of the gap between the wealthy and the poor in Hudson. Just one suggestion that might have made a difference: instead of draconian measures virtually eliminating affordable short term rentals that drive a good portion of our local economy, and help make Hudson accessible to a more diverse group of people, it might have been wise to take money generated by the STR tax, and use it to support affordable housing, including rehab and conversion of city owned properties for that purpose. It also might be wise to consider just how many high end hotels and breweries a town of 6000 really need. Just a few thoughts....
ReplyDeleteMonica, you really are an asset to the Hudson community. You've done great work both advocating for progressive causes and assisting small businesses in the Covid recovery. I would love to see you on the Common Council.
DeleteI completely agree. I find it hilarious that the city celebrates the increased lodging tax revenue in their recent press release, while ignoring the fact that they effectively killed it in the future by banning STRs. I would be happy if the tax went to a fund to provide rental emergency grants and assistance for those in need. Or, to help develop affordable housing as you mention. Real assistance. Rather than spend the money on some consultant to study the affordable housing crisis and report back to us in two years. As I’ve mentioned before, I love the hotels in this town and used to stay at them before I moved here, but not everyone can drop $1K -$2K on a mandatory three-night stay at a luxury room. Diversity in tourism is also important. In also wonder how many Airbnbs will go “underground,” meaning no regulation or taxes? Look at places like NYC and New Orleans as examples. Plenty of non-owner occupied ones available in places where they are not allowed. Also, these much larger cities have enforcement teams and still have no way of staying on top of it. When are people going to learn that reasonable regulation works better than short sighted prohibition?
DeleteUnion Jack: yes, rent assistance for those who lost income this year would have been a terrific use, and again, would have contributed to keeping Hudson diverse, and accessible by those who live and work here.
ReplyDeletehttps://www.thedailybeast.com/billionaire-mark-walter-is-buying-up-crested-butte-colorado-and-locals-are-freaked
ReplyDeleteI don't think it is the city's job, or the responsibility of Hudson taxpayers to finance or construct affordable housing. The governments role is to legislate and manage the affairs of the city not to be a defacto landlord. The obvious solution, in combination with short term rental and Hotel restrictions, would be both incentives to property owners to create rentals combined with some hard-core rent regulations. If a landlord has a large apartment they are renting for $1800 and suddenly they are only permitted to collect $900, what are they going to do? They will convert it into two smaller apartments instantly doubling available rental space. The rents are too limited and too expensive. Regulate the rents. Seems to me thats the solution.
ReplyDeleteOr, they will sell it as a single family home and cash in on a hot seller’s market, especially when the alternative is overregulation of the rental market, assuming there would be no corresponding cap on their costs (taxes, utilities, repairs...). Thus removing more supply from the rental stock and leaving out those who aren’t lucky enough to score a rent regulated apt.
DeleteI don’t like the idea of the city as a landlord either. But “hard-core” regulations are not going to get the desired results. Rental properties and STRs are an investment, and if draconian regulations make the future of that investment look bad, investors will sell and move their money to another investment. So maybe the city should encourage investment, levy a reasonable tax on the success of those investments, then reinvest that into the community. Everyone wins.