Roseland Named Developer For GM Property In Sleepy Hollow

SLEEPY HOLLOW, New York - Officials of General Motors and Sleepy Hollow Mayor Philip Zegarelli revealed plans today to redevelop the former GM vehicle assembly plant site here. GM also announced the selection of a developer/partner for the project, Roseland Property Company of Short Hills, N.J. The project will be called Lighthouse Landing at Sleepy Hollow.

Roseland Property Company is a full-service real estate organization primarily involved in the development and construction of waterfront and mixed-use residential properties throughout the northeastern United States, according to Marshall B. Tycher, principal of the company.

"The development will benefit the community economically and aesthetically," according to Mayor Zegarelli. "The shared vision for the site includes a mixed-use development combining single and multi-family housing, a conference center, commercial office space and retail shopping."

"We will balance open green space with a sensitive development that will become an asset for this community," said Matthew P. Cullen, general manager of GM's Enterprise Activities Group. "Working together with a broad range of organizations and individuals, this development can benefit the Village not only aesthetically - but with increased property values, additional tax base and updated infrastructure. Lighthouse Landing at Sleepy Hollow will be the signature development along the Hudson River."

Cullen said that GM and Roseland have signed a memorandum of understanding to do the project, and that based on its other developments, Roseland was well-positioned, to "bring to reality our shared vision for the property."

"Roseland's flagship endeavor is the development and construction of Port Imperial, a $1.7 billion mixed-use, master-planned waterfront development in Weehawken and West New York, N.J.," according to Tycher. "It spans two miles directly across the Hudson River from midtown Manhattan.

"At Roseland, we see the Sleepy Hollow project as providing an environmentally-compatible development that will integrate nicely with the Beekman Avenue corridor as well as the waterfront," Tycher said. "This effort exemplifies how business and government should work together to achieve mutual goals and benefit the communities where we work and live."

Cullen added: "We have been working closely with Mayor Zegarelli to understand community issues and needs and will continue to work with the mayor and the larger community as we work with Roseland on the master plan and vision for the site. This project is an example of GM's commitment to a sustainable America through a creative approach to reinvestment of a former plant site."

"Sustainable development depends on exceptional leadership, teamwork, community involvement and education," Cullen said. He also noted that GM has undertaken redevelopment projects at many other sites, both in New York State as well as across the country, with great success.

General Motors , the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide. In calendar year 2000,GM earned $5.0 billion on sales of $183.3 billion, excluding special items. It employs about 372,000 people globally. Please visit www.gmability.com to learn more about GM's redevelopment efforts and the environmental progress it is making in the areas of products, plants and partnerships.

The former Tarrytown plant, one of GM's oldest assembly plants when it ceased operation in 1996, was originally built in 1899 for the production of Walker Steamers. GM purchased the plant in 1914 and began producing Chevrolet cars and trucks the following year.