Developer Approved for Beacon Metro-North Station

Governor Kathy Hochul today announced that the Metropolitan Transportation Authority Board has approved a developer, Jonathan Rose Companies, to transform a parking lot adjacent to the Beacon Metro-North Station into a residential development with 265 units of mixed-income housing. The development is the latest milestone following the Governor’s Executive Actions to repurpose existing underused State-owned sites for housing. The redevelopment will complement the City of Beacon’s efforts to foster greater connectivity between the waterfront, Beacon Station and Main Street. Residents will be able to access midtown Manhattan via Metro-North’s Hudson line in just 78 minutes.

“The key to making our state a more affordable place to live is simple: build more housing, especially right next door to frequent and reliable transit service,” Governor Hochul said. “By creating new housing next to the Beacon Metro-North station, we are breathing new life into an underutilized site and giving more New Yorkers the opportunity to live in a vibrant community with an express train to New York City just next door. This project is a model for how thoughtful development can strengthen communities and make our state more affordable and livable.”

Made possible through the Governor's Redevelopment of Underutilized Sites for Housing (RUSH) program, funding will support a structured parking garage to replace an existing Metro-North commuter parking area with new housing units. The RUSH program is an initiative spearheaded by Governor Hochul to repurpose existing state sites and properties for housing. The initiative builds on the Governor's Executive Order 30, which directed state agencies and authorities, including the MTA, to identify sites appropriate for housing development.

MTA Chair and CEO Janno Lieber said, “Transit-oriented development is a double win for the region – creating lively, walkable communities while responding to Governor Hochul’s commitment to new housing. We can’t wait to get started on the Beacon project.”

MTA Construction & Development President Jamie Torres-Springer said, “We’re proud to turn MTA assets into exciting, dynamic growth for the entire region, and I’m excited that this project will connect 265 new units of housing with all the great service the MTA has to offer.”

MTA C&D Transit-Oriented Development Senior Vice President Miriam Harris said, “This project will create vital new housing options for the iconic riverside city of Beacon – all while increasing ridership and advancing our regional planning goals. It’s a win for New Yorkers everywhere, and we’re excited to see it move forward.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Expanding economic opportunity for New Yorkers starts with quality housing—and the Beacon Metro-North Station project shows how Governor Hochul is delivering. Under her leadership, New York is transforming underutilized state-owned sites and leveraging innovative NY-RUSH funding to create much-needed transit-oriented housing that strengthens local economies and fosters sustainable, connected growth in communities like Beacon and across the state.”

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Under Governor Hochul’s leadership, New York is turning bold ideas into real housing solutions. Thanks to the RUSH program, we’re creating 265 new homes right next to transit—a win for affordability, sustainability, and smart land use. This development turns pavement into progress, showing how strategic investment can reshape communities for the better and help more New Yorkers live where they thrive.”

Beacon Mayor Lee Kyriacou said, “MTA’s proposed Transit-Oriented Development project in the City of Beacon will provide increased and affordable housing opportunities to current and future residents. It will replace ugly impermeable blacktop with environmentally sustainable living — which helps Beacon both to support our Main Street, and also to do our part to help address the housing shortage in our region.  We look forward to working with MTA to ensure that the project fits with the City’s planning priorities and aesthetic character.”

Jonathan Rose Companies President Jonathan F.P. Rose said, “We are so pleased to have been selected by the MTA to redevelop the Beacon Train Station’s North Lot. This project represents a key goal of the firm- to develop green, transit-oriented mixed-income and mixed-use projects that expand housing options and economic development for their host communities. And what an amazingly vital, creative community Beacon is.”

Dutchess County Executive Sue Serino said, “This transit-oriented development project will transform a state-owned parking lot into its highest and best use while maintaining parking for commuters with an integrated parking structure and increasing much needed housing supply and affordable options for our residents.”

The MTA’s Transit-Oriented Development team works closely with the State, municipalities, and the development community to leverage existing assets to generate new housing and increase ridership. This project will create waterfront housing units in a community celebrated for its natural beauty, within walking distance to all the dining, entertainment and amenities that Beacon’s Main Street has to offer.

Governor Hochul’s Housing Agenda

Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives and by removing barriers for development, $500 million in capital funding to build up to 15,000 units on state sites, including the City of Beacon project, as well as new protections for renters and homeowners. Building on this commitment, the FY26 Enacted Budget includes more than $1.5 billion in new State funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. These measures complement the Governor’s five-year, $25 billion Housing Plan, included in the FY23 Enacted Budget, to create or preserve 100,000 affordable homes statewide. More than 60,000 homes have been created or preserved to date.

The FY25 and FY26 Enacted Budgets also strengthened the Governor’s Pro-Housing Community Program — which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 300 communities have received Pro-Housing certification, including the City of Beacon. This program also includes a $500 million capital fund to build up to 15,000 new homes on State-owned property, including the Beacon project.

About Jonathan Rose Companies

Jonathan Rose Companies is one of the country’s leading owners of green, affordable and mixed-income communities. Founded in 1989 with a mission to create a more environmentally thriving, socially just world through the development, preservation, renovation, and ownership of green, affordable and mixed-income communities, Rose has created projects $4.6 billion of value as of year-end 2024, with a current portfolio of nearly 20,000 apartment homes in 14 states and Washington, D.C. The Firm is a fully integrated investment management, development, and asset management company with construction management, solar energy, mortgage finance, and title company affiliates, and has offices in New York, Ohio, Colorado and California. For more information, please visit www.rosecompanies.com