Wednesday, December 22, 2010

Dyson Foundation buys Children's Museum building for $1.4 million

The Poughkeepsie Journal reported that The Mid-Hudson Children’s Museum sold its North Water Street property to the Dyson Foundation for $1.4 million and has entered into a long-term lease that enables the family-centered nonprofit to maintain its base of operations at the waterfront location.

Leaders from the Mid-Hudson Children’s Museum and the Dyson Foundation described the transaction as an innovative partnership that will benefit the Children’s Museum while helping to secure the stability of the Poughkeepsie waterfront, which is facing increased development pressures following the success of the Walkway Over the Hudson and new projects slated for the area. All proceeds from the sale went to retire the Mid-Hudson Children’s Museum’s entire mortgage debt on the property.

“We believe this partnership is in the best interests of the Mid-Hudson Children’s Museum, our many members, and the nearly 60,000 children and parents that are enlightened by our work each year,” said Tracy Cass MacKenzie, President of the Museum’s Board of Directors. “We anticipate continuing operations at the 75 North Water Street property for a long time.”

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