News in Detail

Edge-on-Hudson Milestone: Home Construction Begins and Sales Gallery Opens at Long-Awaited Development in Sleepy Hollow

Toll Brothers Brownstones Collection at Edge-on-Hudson Photo Credit: Toll Brothers

Sleepy Hollow, New York — October 22, 2018 –Fall is always a busy season in Sleepy Hollow, New York, the village known as the inspiration for Washington Irving’s famous Legend of Sleepy Hollow. This fall, however, is especially memorable, as several milestones have been reached at Edge-on-Hudson, the transit-oriented, mixed-use development transforming the former General Motors site along the Hudson River in Sleepy Hollow. Home construction is underway, as Toll Brothers (NYSE: TOL) has started work on their Brownstones collection of luxury townhomes. In addition, home sales are set to commence, with the on-site sales gallery scheduled to open in the coming weeks. At the same time, the master developers of the project, a joint venture of California-based SunCal and New Jersey-based Diversified Realty Advisors, have begun infrastructure work on Phase 2 of the ambitious $1 billion development, set to establish a regional destination and gateway to the Hudson Valley.

Edge-on-Hudson will encompass 1,177 units of housing; a 140-room boutique hotel; 135,000 square feet of retail space and 30,000 square feet of office space. The project will also feature more than 16 acres of parkland, and a winding promenade along the water linking to the existing Scenic Hudson RiverWalk to the south and Kingsland Point Park to the north, with links to Rockefeller State Park and beyond. In Phase 1 of the project, Toll Brothers is planning to build as many as 306 units of housing, including 40 affordable senior units and 21 affordable workforce housing units.

Edge-on-Hudson is expected to serve as a catalyst for economic development in Westchester’s Rivertowns and the Hudson Valley Region. The mixed-use development will be a destination in its own right, serving as a focal point for regional tourism, and providing a vital link for waterfront access. Edge-on-Hudson is the largest undeveloped tract of land along the Hudson River in proximity to New York City and is set within walking distance of two nearby Metro-North railroad stations with direct access to Grand Central Terminal in Manhattan. When the final landscaped promenade is completed at Edge-on-Hudson, it is anticipated that biking and walking trail connections will be available to the shared use path of the new Mario M. Cuomo (Tappan Zee) Bridge.

Toll Brothers is constructing luxury loft condominiums and townhomes offering elevated finishes and thoughtful design. The Lofts Collection will feature 46 condo flats with 1-, 2-, and 3-bedroom residences ranging from 800 to 1,800 square feet. The Brownstones Collection will feature 3- and 4-story townhomes with large rooftop terraces, and 72 townhomes with up to 2,900 square feet will be available. For more information and to register for the latest project updates, visit www.wiredhat.com/proofs/suncal/hudson/wordpress/

About SunCal

SunCal acquires, entitles and develops major residential properties and commercial developments. The company creates distinctive master-planned and mixed-use communities that emphasize quality of life, environmental sensitivity and recreational opportunities. SunCal is one of the largest real estate development companies in the U.S. that specializes in large-scale, mixed-use master-planned communities, and has offices in Irvine, Calif.; Northern California; Washington, D.C.; Las Vegas, Nevada; and Austin, Texas. For more information, visit www.suncal.com.

About Diversified Realty Advisors

Diversified Realty Advisors, an affiliate of PCD Capital, LLC, is a full-service real estate company with core strengths in residential and commercial development and construction. PCD’s fully integrated team is involved in all real estate services, including those related to acquisitions, architectural and engineering design, construction, entitlements, leasing, sales and management. PCD’s existing portfolio and acquisition/development pipeline includes the operation and development of over 6,000 residential units and 750,000 square feet of commercial space across within the tri-state area. Visit www.diversifiedra.com for more information about PCD’s developments.

About Toll Brothers

Toll Brothers, an award-winning Fortune 500 company founded in 1967, embraces an unwavering commitment to quality and customer service. Toll Brothers is currently building in 20 states nationwide and is a publicly owned company listed on the New York Stock Exchange (NYSE: TOL). For four years in a row, Toll Brothers has been ranked the #1 Home Builder Worldwide on the Fortune magazine “World’s Most Admired Companies®” list.* Toll Brothers also has been honored as national Builder of the Year by BUILDER magazine, and was twice named national Builder of the Year by Professional Builder magazine. For more information, visit http://TollBrothers.com

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