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Cornerstone Residence


Project Description

The Cornerstone project entailed the gut rehabilitation of an existing 4-story structure that was formerly the Newburgh Hotel, as well as three adjacent buildings, one being a former Sears Roebuck department store. Cornerstone provides 116 single-residence housing units, 12 artist lofts, and commercial space. Located on Broadway in the heart of Newburgh, Cornerstone provides much needed housing while transforming the downtown area.


The buildings comprising the Cornerstone project are constructed of masonry and heavy timber. The exterior masonry was restored to its original character, which allowed the owner to obtain historic tax credits. The entrances were upgraded, creating a warmer, welcoming atmosphere, and a separate new entrance was added to serve the loft apartments. The interior gut rehabilitation included the replacement of a major portion of the flooring system, extensive environmental remediation, and the installation of all new mechanical and electrical systems.

Cornerstone offers a number of unique features. The artist lofts were especially designed to provide expansive light and workspace. Other customized spaces include large studio areas, a gallery, a library, a community room and office facilities. The overall effect of the renovation was to return the structure to its days of prominence when it was known as the Newburgh Hotel.


The renovation at Cornerstone was conducted with tenants in resident, “checker-boarded” so that work could be done in individual apartments. This project required timely scheduling and sub-contractor coordination, an effective safety plan and a “tenant-sensitive” management approach that Mountco successfully used with other similar projects.

Working with tenants in place necessitated that all mechanical and electrical systems remain operational throughout the process. Compounding the difficulties was the fact that the various buildings under renovation were constructed at different times with different structural systems. Mountco worked closely with the development team to ensure the work progressed efficiently and cost-effectively, and Mountco’s experience carefully balanced the design, construction and tenant-related considerations of this complex project.


“Cornerstone is an extremely complex project with many design and construction challenges. Mountco has gone beyond the traditional role of a general contractor in helping us find practical and cost effective solutions so that this project could be funded. We would not have made it to the closing table without Mountco.”

Patricia Haggerty Wenz, Executive Director, Safe Harbors of the Hudson, Inc.