Peekskill Receives $10 Million Grant to Help Transform Its Downtown

The prize from the Downtown Revitalization Initiative aims to help rejuvenate the city with new business and civic projects.

In its fourth year, New York State’s Downtown Revitalization Initiative has selected Peekskill to receive one of 10 regional prizes to help fund economic redevelopment, to the tune of $10 million apiece.

Chosen as the winner for the Mid-Hudson region, Peekskill was awarded the funding for its already ongoing transformation of its downtown scene and riverfront recreation areas, as well as associated job growth, livability, and actively engaged community, among other criteria.

“We challenged local governments to propose innovative ideas to create jobs and drive economic growth,” says Governor Andrew Cuomo. “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.”

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What set Peekskill’s proposal apart from others in the region? “They have the secret ingredient,” Cuomo says, “the capacity to actually get it done. This investment will help Peekskill utilize these assets to maximize their full potential.”

The Downtown Revitalization Initiative endeavors to supply $100 million dollars each year to local municipalities to help bolster and grow, funding local projects developed by residents and business leaders. Of its $10 million grant, $300,000 will first be set aside to establish and run a planning committee, the first step in selecting projects to benefit from the prize.

“This is a wonderful day for Peekskill,” says Peekskill Mayor Andre Rainey. “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.”

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“Peekskill is a special place, which is why I located my district office here” says State Senator Pete Harckham. “I’m proud to see the city advance into a bright new future.” He adds, “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.”

State Assembly Member Sandy Galef, speaking at Governor Cuomo’s announcement from the Hudson Room in downtown Peekskill, had the highest praise for the city.

“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. 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.”

You can watch the entire announcement below.

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