The Town of Orangetown board members on Tuesday effectively disqualified a developer and his team from the contest to redevelop the HNA Palisades Training site despite extending an invitation to a scheduled meeting on Wednesday to lay out plans and share financial information.
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ZVG@Palisades LLC, an entity affiliated with Vasco Ventures, did not meet its Nov. 12th deadline to purchase the HNA Training Center in Palisades.
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The Brooklyn group that is under contract to purchase the HNA Training Center in Palisades from the Chinese-owned property, has defaulted on its contract and is seeking relief in the bankruptcy court to buy itself 60 additional days to find the funds to close.
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The firm behind the recent purchase of the Hudson Valley Resort in Kerhonkson is said to be interested in purchasing the HNA Center on Route 9W in Palisades.
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Rockland County’s James Chambers, an heir to the Cox family fortune, lands on Forbes richest people list.
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In 2017, HNA won approval from Orangetown’s Planning Board to build an additional five-story hotel with 100 rooms on the property. But there was a snag: HNA didn’t have the right to rent those rooms to the general public.
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