Gov. Andrew Cuomo visited Peekskill last week bearing gifts, and a giant check for $10 million to help the city continue its revitalization. The state grant money comes from the Mid-Hudson Regional Economic Development Council, which picked Peekskill to receive the money based on several criteria, including identifying “transformative projects” that can result in “recent or impending job growth.”
“Peekskill proposed a brilliant plan that builds on their natural resources, including the beautiful waterfront – a magnet that draws people and businesses to the area,” said Cuomo while making the announcement at Hudson Room restaurant in Peekskill. “And they demonstrated they have the secret ingredient: the capacity to actually get it done.”
The City of Peekskill must decide how to spend the money.
Peekskill Mayor Andre Rainey called the grant “a game changing investment.”
“This is a wonderful day for Peekskill,” he said. “Thanks to Gov. Cuomo’s Downtown Revitalization Initiative, our city has an opportunity to build on what we’ve accomplished and forge a great new future for our community. This investment will create lasting improvements that will attract more residents, prompt businesses to invest here, and entice visitors to see what we have to offer.”
The city will form a committee to come up with possible uses for the grant money, which include renovating the gazebo on the riverfront, connecting the downtown and the riverfront with walking trails, renovating the downtown parking garage and upgrading the Paramount theater.
The revitalization of Peekskill has come about due to private investment, a thriving artistic community, and interesting opportunities to rehabilitate historic buildings like Dramatic Hall and the Paramount.
Peekskill’s biggest investor is Louie Lanza, who owns the Hudson Room and another hot riverfront restaurant in the city, Taco Dive Bar. Lanza and his family’s foundation have been funding the Paramount to keep it alive until another operator can be found.
The previous operator of the Paramount, Red House Entertainment, stepped away earlier this year after operating the theater for six years. Lanza and Rainey want to keep the Paramount operating and bringing in classic rock acts like Blue Oyster Cult, 1970’s favorites like David Cassidy, and other programs like the Miss NY Pageant and comedians including Paula Poundstone.
Any act that can fill the house and its 1,086 seats serves as a boost to the local economy, with bars and restaurants that gain from concert-goers both before and after the show. Interior or exterior renovations to the theater, or a renovation of the marquee, are possible uses of some of the grant money.
“Peekskill is a special place, which is why I located my district office here,” said State Sen. Pete Harckham. “I’m proud to see the city advance into a bright new future. Thanks to Gov. Cuomo’s Downtown Revitalization Initiative, the community will see targeted economic investments that foster real change and improvements. This $10 million in revitalization funds will go a long way to make Peekskill an even more inviting place to live, work and play.”
Assemblymember Sandy Galef said Peekskill has proven itself to be a community at the forefront of progress.
“Through strong leadership and innovative planning, the city continues to develop in many ways,” she said. “We are excited to see how Peekskill plans for these investments and how the community bands together even further to bring much-needed projects to life.”
Westchester County Executive George Latimer added: “Peekskill is one of the many outstanding communities in Westchester County, and I am thrilled to see it benefit from Gov. Cuomo’s Downtown Revitalization Initiative. I look forward to assisting Peekskill’s strategic plan and the long-term investments that will be borne out of this successful economic development program. I join the people of Peekskill in thanking the governor for his commitment to Westchester.”
Originally built as a 1,500-seat movie palace in 1930, the Paramount has been designated a Westchester County Landmark and is on the New York State and National Registers of Historic Places.
