- Associated Press - Tuesday, March 15, 2016

NEWBURGH, N.Y. (AP) - A planned $150 million retail and entertainment center in the Hudson Valley has been put on hold over funding issues.

The Times Herald-Record of Middletown reports (https://bit.ly/1pkZsWi ) officials said Monday that The Wilder Cos., a Boston-based developer, pumped the brakes on the plan due to rising costs.

Known as LOOP-Hudson Valley, the retail development was expected to include dozens of shops and restaurants along with an entertainment venue located along Route 300 in the Orange County town of Newburgh. Dick’s Sporting Goods, BJ’s Wholesale Club, ShopRite, Michaels, Chipotle and Regal Cinema 12 were announced as the site’s anchor stores.

Company officials say they’re going to reevaluate plans for the site before moving forward. The developers had already cleared vegetation from the nearly 130-acre property.

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Information from: The Times Herald-Record, https://www.th-record.com

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