Roseland Withdraws From Lighthouse Project

SLEEPY HOLLOW, NY-Just how the sudden withdrawal of Roseland Property Co. will affect the Lighthouse Landing project here is up in the air at the moment. However, a press conference scheduled for tomorrow at Village Hall may provide some answers.

Late Wednesday, Roseland Property, a joint venture partner with General Motors Corp. on the redevelopment of the former GM Minivan Assembly site, issued a statement which began, “After six years of hard work and an exhaustive environmental review, we are deeply disappointed to announce today that we have withdrawn our plan for the redevelopment of the 98-acre GM property in the Village of Sleepy Hollow.” The statement went on to say that “the terms imposed by the village during the final stage of the environmental review process scaled back the project to the point where it became economically unviable for our company.”

Geoffrey Thompson, a spokesman for the Short Hills, NJ-based developer, says the company would have no further comment except for its statement, which said that its plan would have “transformed a former industrial property into a vibrant and vital riverfront community.” Roseland concluded by saying that “opportunity is now gone. This is a tremendous loss for the village and the Tarrytown School District in particular.”