COUNTRY'S FIRST "GREEN" HOTEL/CONFERENCE CENTER WINS $1.5 MILLION FOR WATERFRONT PARK

Residents, tourists and region one step closer to benefiting from landmark project

( BEACON, New York) - Scenic Hudson's plans to transform a 25-acre pollution-scarred waterfront in Beacon into a stunning public park -- encompassing the nation's first environmentally friendly hotel/conference center -- just received a major boost. New York State has awarded $1.5 million in grants to help Scenic Hudson and the City of Beacon restore the environmental health of the shoreline property and build a 16-acre park where people can picnic, walk along the river and learn about the river's unique ecology. The project also will showcase a world-class "green" waterfront hotel/conference center being built by a private developer in conjunction with Scenic Hudson. The state funding also means Scenic Hudson is one step closer to securing payment on a $1 million challenge grant from The Peter Jay Sharp Foundation.

A long-time catalyst for Beacon's revitalization -- including a lead role with the city in attracting the internationally heralded art museum Dia:Beacon -- Scenic Hudson's Long Dock Beacon project is scheduled for a 2007 groundbreaking. The new state and foundation funding will help create the innovative development's many public amenities. The funds will go for restoring wetlands and a meadow, a canoe/kayak launch, an environmental learning center, picnic and game tables, trails, and features that tell of the site's history, natural areas and wildlife.

The 16-acre park is an essential element of the 25-acre waterfront project, which Scenic Hudson is creating with development partner Foss Group Beacon and an internationally recognized team of architects and environmental designers. The commercial part of the project includes a 158-room hotel with conference center, spa and two restaurants. It will combine stunning architecture that complements the natural landscape with energy-frugal technologies that put it on schedule to be the first hotel in the nation to achieve the U.S. Green Building Council's gold certification. Bloomberg.com has said, "it's a project that does everything right." Long Dock Beacon will prove its economic worth, even while creating a public park that surrounds the development.

"These state and foundation funding commitments are critical to creating a new paradigm for eco-friendly development. They will ensure that our park embodies the world-class environmental standards exemplified by the hotel and conference center buildings. The park design calls for rehabilitating natural areas and habitats, which will help lure more and more people to connect with their Hudson River," said Ned Sullivan, president of Scenic Hudson. "All those who live or visit the valley will appreciate this latest support from Governor Pataki's longstanding commitment to smart waterfront development."

Following the recently announced funding, Scenic Hudson must still raise an additional $2 million for the park. It is noteworthy that Long Dock Beacon will do more than create a new place for people to experience the inspirational power of the Hudson River. The project will help fuel an energized Beacon Main Street business district, while also complementing nearby attractions, including the state's planned Beacon Institute for Rivers and Estuaries. Additional synergies will come from new ferry service launched between Newburgh and Beacon and upgrades to the Metro-North train station.

"We are delighted that the state and a major foundation like The Peter Jay Sharp Foundation recognize the investment value in this project. Long Dock Beacon will set a new course and new vision for what economic and community progress looks like," said Steve Rosenberg, senior vice president of Scenic Hudson, who oversees the Beacon initiative. "This project restores the river's place as the lifeblood of the Beacon community and will be a model for how waterfronts can be reclaimed in cities across the nation."

"This is another important example of the City of Beacon partnering with Scenic Hudson on creating a waterfront that celebrates our proud history while serving the emerging needs of residents," said City of Beacon Mayor Clara Lou Gould. "The grant monies represent a diverse public-private partnership with city and state resources being leveraged with those from a regional nonprofit and leading foundation. Not only will the Long Dock Beacon project add to the strength of the local economy but it also will provide a waterfront that will forever welcome our residents and visitors."

Speaking for the developer Foss Group Beacon, which is working with Scenic Hudson on the bold initiative, Matthew Rudikoff added, "The combination of private, nonprofit and public sector sources of financing and Scenic Hudson's vision have made possible the transformation of Beacon's waterfront into a major regional tourist destination."

ABOUT THE PETER JAY SHARP FOUNDATION The Peter Jay Sharp Foundation, based in New York City, has provided a $1 million challenge grant to help leverage additional financial support for the project. The foundation also provided support for Scenic Hudson's Gateway to Mount Beacon Park.

The Peter Jay Sharp Foundation was established in 1984 to facilitate its founder's interests in education and cultural endeavors, especially in the New York City area, and is as unique in its direction and procedures as its founder. Peter Sharp was always an innovator in all his undertakings and, in his philanthropic activities, attempted to break new ground without dismissing the past. Peter appointed four directors, all good friends of his and well known to each other. On Peter's death, Norman Peck was elected president of the foundation and with the support of the other directors, Ed Duffy, Dan Lufkin and Jack Nash, the foundation has proceeded to build from the base Peter Sharp had established. The foundation's greatest virtue is that it can function in a more expeditious manner than most organizations as a result of its ability to act based on a telephone poll of its directors. Over the years the foundation has spread its interests to involve educational institutions, music, art, theater, museums, medical research and environmental organizations, with New York City continuing to be the vital center of most of its activities.