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Amsterdam's vacant Mohawk Carpet Mills site to be redeveloped by SIK Ventures after city transferred foreclosure rights.
A long-vacant carpet mill complex in Amsterdam, once part of the historic Mohawk Carpet Mills, is set for redevelopment after the city transferred foreclosure rights to SIK Ventures, a New York City-based firm.
The deal, approved by the Amsterdam Common Council, includes a $75,000 payment to the city and aims to address years of unpaid taxes totaling around $300,000.
The site, previously requiring $150,000 in emergency demolition, will undergo a mixed-use project with an estimated $40 million investment.
Officials hope the redevelopment will eliminate safety risks, revive the industrial landmark, and return the property to the tax rolls.
While no timeline has been set, city leaders and residents express cautious optimism about the project’s potential.
El sitio vacío de Mohawk Carpet Mills de Ámsterdam será reurbanizado por SIK Ventures después de que la ciudad transfiriera los derechos de ejecución hipotecaria.