Hines Begins Construction On Luxury Multifamily Project Northlight At Edge-On-Hudson

Closing of Construction Loan with Santander Bank moves project forward

(SLEEPY HOLLOW, NY) – Hines, the international real estate firm, along with investment partner MetLife Investment Management, today announced the start of construction of NorthLight at Edge-on-Hudson, a Class-A, multifamily project featuring 246 luxury apartments. The project team at Hines is also pleased to announce that they have closed on the construction loan with Santander Bank. This marks the third project they have helped finance with Hines.

NorthLight at Edge-on-Hudson will include studio, one-bedroom and two-bedroom apartments ranging from 565 to 1,406 square feet, featuring high-end finishes and thoughtfully designed floorplans. Best-in-class amenities will include a 17,000 square foot outdoor courtyard with swimming pool, fitness deck, outdoor kitchens, firepits, open green spaces, and varied seating and lounge areas for social or coworking use; two penthouse terraces and a roof deck; indoor clubhouse with coworking space, state-of-the-art fitness center, kid’s play room, communal kitchen and wine lounge; conditioned storage space, bicycle parking, pet spa and 427 private resident parking spaces within a 5-story, partially enclosed garage that provides access to each resident floor. The building is part of a $1 billion phased master-planned development known as Edge-on-Hudson, a mixed-use, riverfront community with over 16 acres of community parks and a 1.5-mile waterfront promenade.

“Today marks an exciting milestone for our Edge-on-Hudson project and we are thrilled to expand our multifamily portfolio in Sleepy Hollow with the addition of NorthLight at Edge-on-Hudson. With its excellent amenities and irreplaceable location, NorthLight will set a new standard for living in the area,” said Tommy Craig, Hines Senior Managing Director.

NorthLight at Edge-on-Hudson is situated on the Hudson River, less than 0.5 miles from the Tarrytown Train Station, with direct access to Grand Central Terminal in under 40 minutes. Located just 25 miles north of New York City, the site is a coveted parcel set within walking distance an extraordinary range of recreational parks, trails, historic sites. The village of Sleepy Hollow is home to a diverse and vibrant community that combines city convenience and small-town charm. The area has preserved much of its history and natural aesthetic beauty and remains steeped in history and local legend.

NorthLight at Edge-on-Hudson is expected to be completed in the third quarter of 2022. Leasing is slated to begin in the first quarter of 2022. For more information please visit: www.northlightatedgeonhudson.com.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.