Tuesday, May 24, 2022
Developers seizing on Hasidic suburb’s explosive growth
Developers are responding to the explosive growth in Hudson Valley suburb Kiryas Joel, setting the local Hasidic community up for a slew of new housing projects.
The Orange County municipality is the home of Veyoel Moshe Gardens, a multifamily housing complex. The Times Herald-Record reported the 1,600-unit development recently opened and could ultimately house as many as 9,000 people across its 70 acres.
About 500 homes have been built at the complex so far and at least 300 have been sold. Many of the buyers have come from either Kiryas Joel or Brooklyn; several buyers have purchased more than one unit, likely indicating investors looking to rent.
The development has become its own metropolis, with the developer switching out three residential buildings in favor of a commercial portion. The building will likely include a supermarket and other stores, cutting residents' need to cross a busy road to go shopping.
The complex is separated from the rest of the village by County Route 105, dividing the Satmar Hasidic sect from the rest of the community. The sect is known for having large families, which may only increase the need for housing as the community grows.
The uptick in development activity comes after Kiryas Joel grew by 63 percent in the last decade to 33,000 people, marking Orange County's most populous area.
Akiva Klein, the developer behind Veyoel Moshe Gardens, is also developing Acres Enclave, expected to house about 3,000 people across 543 condos. There are also projects underway that will include 482, 457, 250 and 191 units, respectively.
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