Real Estate Development
April 1, 2010: The Galesi Group acquired one of the largest waterfront parcels in the region and purchased the vacant American Locomotive Company (ALCO) site. At that time the property consisted of over 1,000,000 square feet of dilapidated rundown buildings, tax liens, and environmental challenges.
Galesi proceeded to demolish the buildings working with NYS DEC under the Brownfield Program to remediate the site. The vision was to create a mixed use urban development to include residential apartments, condos, office buildings, retail and hotels. A new 3.25 acre harbor was constructed, one of the largest on the Canal, with 50 dock slips.
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