Drum Hill Senior Living Community
90 Ringgold Street, Peekskill, NY 10566
Drum Hill located in Peekskill, New York was one of those sites that
people would always look at and say," I wish someone would do
something with that”. The site sat vacant and uninhabited for more
than 15 years. No less than two developers attempted to develop the
Drum Hill site with no success. Obstacles such as the historic
significance, the surrounding residential community and the extent of
the deterioration of the building all made less capable and committed
developers walk away from the project.
The building was listed on the National Historic Registry in 1979
enabling the project to be financed using historic tax credits in addition
to low income tax credits, Westchester HIF funds, and tax exempt bond
The construction of this 120-unit project began in November of 1998
and included the historic renovation of the existing building and the
construction of a new 72 - unit wing. The property was placed in
service in December of 1999. This 14 month construction schedule was
better than originally anticipated.
Drum Hill reached stabilization 6 months ahead of schedule and all of
the banks covenants were met within the first year of operation. The
project which has now been in operation for the past 5 years enjoys a
Trinity is beginning its 8th year of management of this 120 unit facility,
which includes tax credit compliance and age restrictions.
Click to contact us about living at Drum Hill