Development partnership awarded to Jonathan Rose Companies for transit-focused housing project at Metro-North's Beacon Station
Beacon Station TOD Progresses Towards Construction
The Beacon Station Transit-Oriented Development (TOD) project, located near the Metro-North Railroad (Metro-North) in New York, is making significant strides towards construction. This development is part of Governor Kathy Hochul's commitment to make New York more affordable by building housing near frequent and reliable transit services.
The Metropolitan Transportation Authority (MTA) and the state have selected Jonathan Rose Companies as the developer for a 265-unit residential development at the TOD site. This mixed-use development will include a mix of residential and retail spaces, with at least 10% of the housing units designated as income-restricted.
The TOD redevelopment will create waterfront housing units within walking distance to dining, entertainment, and amenities that Beacon's Main Street has to offer. It will also provide residents with easy access to midtown Manhattan via Metro-North's Hudson Line, with an approximate travel time of 78 minutes.
The TOD project aligns with long-term planning efforts dating back to 2007 and a 2017 comprehensive plan update, which identified the Metro-North station's east side as a key residential density area. The development will preserve local parklands while fostering greater connectivity between the waterfront, Beacon Station, and Main Street in the city of Beacon.
The TOD redevelopment is being funded through the governor's Redevelopment of Underutilized Sites for Housing (RUSH) program. It also includes the construction of a replacement commuter parking garage, funded initially by the developer but reimbursed up to $24.1 million via a State RUSH grant. Once complete, the new garage will be transferred to Metro-North Railroad operation free of liens.
The MTA Chair and CEO, Janno Lieber, stated that the TOD project in Beacon is a double win for the region, creating lively, walkable communities while responding to Gov. Hochul's commitment to new housing. Local officials emphasize that thoughtful TOD helps retain residents in the region, supporting economic growth and improving commuter access.
There are further aspirations for connectivity improvements linked to the station, such as a 13-mile Beacon-to-Hopewell Junction trail currently undergoing a feasibility study. The Beacon Station TOD is intended to serve as a model for thoughtful development that strengthens communities and makes states more affordable and livable.
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- The rail industry, represented by the Metro-North Railroad, will benefit from the Beacon Station TOD project as it will provide easier access for commuters to midtown Manhattan.
- The development of Beacon Station TOD is a significant step in the finance sector, as it is being funded through the governor's Redevelopment of Underutilized Sites for Housing (RUSH) program.
- The automotive industry may see a shift due to the TOD project, as residents will have easy access to public-transit and could potentially reduce their reliance on personal vehicles.
- The housing market and real-estate sector are expected to experience changes due to the TOD project, with the construction of 265 waterfront housing units and the preservation of local parklands.
- Investors may find opportunities in the revitalization of the Beacon Station TOD area, as the development aims to create a lively, walkable community that supports economic growth in the region.
