On Wednesday, the Hudson Industrial Development Agency (IDA) held a public hearing on the Galvan Initiatives Foundation's application for a PILOT (payment in lieu of taxes) and other financial benefits to build a 75-unit apartment building at 75 North Seventh Street, across the street from the 64-unit apartment building now nearing completion. Gossips reported on that public hearing earlier this week: "Is the Honeymoon Over?"
The IDA was accepting written comments about the project until yesterday at 5:00 p.m. Peter Spear, who is running for mayor on his own independent line, posted his comments to the IDA on Instagram. Gossips shares Spear's letter here with his permission.
To characterize the Galvan Initiatives Foundation as an "out of state billionaire" isn't entirely accurate. The Galvan website lists only two addresses, both in New York State: the first in New York City (42 West 39th Street) and the second in Hudson (64 Green Street). It is rumored, however, that T. Eric Galloway himself now lives in Savannah, although the application to the IDA for 75 North Seventh Street gives 253 Union Street as his address.
Spear's second request in his letter to the IDA is of particular interest, especially the second sentence: "[An inventory of Galvan properties] should include an assessment of how many rental units they've converted into high-end, single family homes for sale." Over the past fifteen or so years, Galvan, or one of its previous iterations, has been buying properties, emptying them of tenants, and keeping them vacant for a decade or more. Now they are actively renovating those buildings as single-family homes and selling them. One of their current projects is 123 Union Street, which for many years, probably since the 1930s, had been divided into four apartments. Gossips recently learned that 335 Allen Street, one of the few buildings Galvan actually renovated into apartments and maintained as affordable units, has been sold.
Creating a public inventory of Galvan properties would be of great benefit in understanding the impact this single mercurial developer has had on our little city.
COPYRIGHT 2025 CAROLE OSTERINK
"Creating a public inventory of Galvan properties would be of great benefit in understanding the impact this single mercurial developer has had on our little city."
ReplyDeleteWorking on it, should be done in two weeks. Likely to be a work in progress once the first draft is done, due to the number of subsidiaries involved. I may miss a company here or there; those properties purchased by an LLC formed only for that property are the most likely to be overlooked.
I noticed several of the properties when I was researching taxes. The Hudson school district has a log of all the properties with owners and addresses. Many of the Galvan properties are listed under an LLC, but the addresses were mostly listed with the NYC Galvan office address of 42 West 39th Street. Maybe this is helpful?
DeleteAn inventory of Galvan's current holdings alone will not be an adequate measure of the impact Eric Galloway has had on Hudson. And The Lucky Dog is right. All of the many Galvan LLCs share the address 42 West 39th Street in NYC.
Deletethis is clearly baiting to get voters. Like any other project Galvan goes before to present it's case. They can say yes or no so any targeting is just showboating.
ReplyDeleteWe have to keep in mind that our city assessor works part time from who knows where and is never in the tiny assessor's office in the back of City Hall. What does Cheryl do, if anything? She's never been in front of the council to give any kind of update about properties or assessments or take questions, has she?
ReplyDeleteGalvan is like a really smart criminal organization taking advantage of a golden opportunity. Long ago they found a desperate and crumbling city with a City Hall (Hudson) in disarray, full of dysfunction, run by amateurs with no accountability, with no one paying attention and that would be easily bought and sold by whatever means necessary. Galvan essentially outgunned Hudson, and they still do. Kamal Johnson is just there latest stooge. Tiffany Hamilton and Rick Rector probably refused to listen to Galvan, and look where that got them and us. It got us Kamal, Galvan tenant and Galvan patsy stooge, the worthless so-called mayor of Hudson, NY willing to stay out of his landlord's way while they continue to ransack the city as they please.
Truth is stranger than fiction
DeleteIt's important to remember that there is also a history here; much of it not too savory. An inventory is just a start. But it's a great idea --peter m.
ReplyDeleteI obviously wasn't clear enough, because what I meant was not just an inventory of the buildings Galvan currently owns but an inventory and chronicle of all the buildings that have passed through the hands of Eric Galloway and his many LLCs. To take just one example, a simple inventory would not include 356 Union, which frequently appeared in lists of affordable units Galvan was "committed" to providing. After the building stood vacant for a decade or more, and the restoration was finally begun and completed, the building was sold. The apartments now rent at market rate. A one-bedroom unit was recently listed on Zillow for $2,300 a month.
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