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Developer Finding Takers for High-End Hangars

HAYWARD, CA-Strong local demand for its luxury private jet hangars has Ascend Development expanding nationally with a $90-million development at Stewart International Airport in New York.

By Brian K. Miller | Updated on August 15, 2006

(To read more on the industrial market, click here.)

HAYWARD, CA-Ascend Development, a locally based airport real estate company that develops luxury hangars for private jet owners and commercial real estate investors, is taking its product to new markets after experiencing strong demand at Hayward Executive Airport. The company inked a long-term ground lease for land at Stewart International Airport in Newburgh, NY last week and is negotiating for land at Austin-Berstrom International Airport in Austin, TX, and several other airports around the nation.

The $90-million, multi-phase project at Stewart International Airport will cover 32 acres and include 41 hangars totaling 500,000 sf, making it one of the largest private hangar developments in the US. The development site is located on the Northwest side of the airport, adjacent to route 17K between Interstate 87 and Interstate 84. A groundbreaking is scheduled for 2007.

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