Peekskill Receives $2M To Develop Abandoned Property Into Food Market

PEEKSKILL, NY — More than $102 million was awarded to 64 projects around the state through the Restore New York Communities Initiative, including one project in Peekskill.

The awards, which were announced Tuesday by Gov. Kathy Hochul, are administered by Empire State Development and are designed to help local governments revitalize their communities and encourage commercial investment, improve the local housing stock, put properties back on the tax rolls and increase the local tax base.

Hochul said the grants will help reimagine downtowns across the state.

“Thanks to $102 million of state investment, we are breathing new life into communities from Hudson to North Hempstead, jumpstarting new economic activity and ensuring that New York State continues to be a place where people come to live, work and raise their families.”

The Mid-Hudson region was awarded $9.24 million for eight different projects.

At the top of the list, funding-wise, is $2 million for the city of Peekskill’s Cosmo’s Fresh Market of 630 Washington St.

The project will transform and expand the abandoned property as the new 12,000-square-foot Cosmo’s Fresh Market. It is planning-board approved and “ready to go.”

Officials said the resulting commercial activity will bring to life the vacant building conditions in the area, provide essential neighborhood services and create 25 to 30 new jobs by the Narvaez family group of regional food markets, headquartered in Peekskill.