New York Times Spotlights Sleepy Hollow’s Economic Renaissance, Waterfront Development and Growing Business Community

Sleepy Hollow, one of Westchester County’s most recognizable destinations, is gaining national attention for its remarkable transformation, expanding business community and booming real estate market.

In an October 21 feature titled “Living in Sleepy Hollow, N.Y.: Hardly Sleepy,” The New York Times highlighted the village’s continued economic revitalization, exploring how new waterfront development, tourism, local businesses and a vibrant community are positioning Sleepy Hollow as one of the Hudson Valley’s most dynamic destinations.

For the Business Council of Westchester (BCW), the village’s transformation reflects the importance of strategic economic development, investment in local communities and the partnerships that help drive Westchester County’s continued growth.

A Waterfront Transformation Driving Economic Growth

At the center of Sleepy Hollow’s revitalization is Edge-on-Hudson, a 70-acre mixed-use development on the former General Motors manufacturing site, which closed in 1996.

The ambitious project will ultimately include 1,177 residential units, encompassing luxury condominiums, townhouses and rental apartments, alongside hotel, retail and office space.

The development has already experienced significant demand. According to The New York Times, 95 of the 100 residences at the Daymark condominium building sold before the first model was completed, with prices starting at $1.69 million. At One Kingsland, townhouses begin at $2 million, with a third collection of homes now available following the rapid sellout of the first two.

A major commercial addition is the new 50,000-square-foot DeCicco & Sons supermarket, which includes a bar and a 4,000-square-foot terrace. The development also features the 13-acre RiverWalk, a waterfront public space created through a public-private partnership.

These investments illustrate how the redevelopment of former industrial properties can create new opportunities for housing, commerce, recreation and economic activity while strengthening the long-term vitality of Westchester communities.

A Growing Real Estate Market

Sleepy Hollow’s increasing popularity is also reflected in its housing market.

According to Zillow data cited by The New York Times, the village’s median home price increased from $878,929 in June 2020 to approximately $1.05 million in June 2026, representing an increase of nearly 20 percent.

The report also highlighted several key housing and demographic indicators:

• Population: 11,474 residents
• Median household income: $104,313
• Median home price: Approximately $1.05 million
• Average monthly rent: $3,100
• Homeownership rate: 32 percent
• Entry-level home prices: Approximately $600,000

While luxury development continues to expand, the village is also working to maintain housing opportunities for residents across income levels. The article notes that Edge-on-Hudson includes 61 affordable housing units, with additional affordable housing developments planned throughout the community.

For the BCW, the growth of Westchester’s housing market reinforces the importance of addressing housing availability and affordability as essential components of economic development, workforce attraction and regional competitiveness.

Tourism and Small Businesses Fuel Local Economic Activity

Beyond its growing residential market, Sleepy Hollow has successfully transformed its historic identity into a significant economic driver.

Following the closure of the General Motors plant, village leaders changed the community’s name from North Tarrytown to Sleepy Hollow, embracing its connection to Washington Irving’s The Legend of Sleepy Hollow.

Today, the village has become one of the Hudson Valley’s premier Halloween destinations, attracting approximately 200,000 visitors during the tourism season, according to the mayor’s office.

Annual attractions, including the village’s haunted hayride, Headless Horseman appearances, craft fairs and Halloween parade, bring visitors to the area while supporting restaurants, retailers and other local establishments.

The New York Times also highlighted the expanding Sleepy Hollow Music Festival, which featured Everclear among its 2026 headliners, along with the village’s growing calendar of community events.

Local businesses along Beekman Avenue, including Sleepy Hollow Bookshop, the Village Confectionary and a variety of restaurants and specialty retailers, have benefited from increased tourism and foot traffic.

The article also noted plans to renovate the historic Strand Theater, supported by $1.5 million in state grant funding, representing another investment in the village’s cultural and commercial vitality.

These developments demonstrate the important relationship between tourism, cultural attractions and small business growth, all of which contribute to a thriving regional economy.

Building a Connected and Diverse Community

Located approximately 30 miles north of New York City, Sleepy Hollow offers access to major transportation corridors, Metro-North Railroad service and a growing network of walkable public spaces.

The village’s proximity to Manhattan, combined with its waterfront amenities, parks and recreational opportunities, continues to attract residents and businesses seeking access to both urban employment centers and Hudson Valley quality of life.

The New York Times also emphasized the community’s diversity, reporting that approximately 50 percent of residents identify as Latino, according to July 2025 Census figures.

Sleepy Hollow Mayor Marjorie Hsu highlighted the village’s close-knit, family-oriented character, which remains an important part of its identity amid ongoing development.

The village also benefits from its proximity to major regional employers, including BCW member Phelps Hospital, part of Northwell Health, as well as its connections to the broader Westchester business community.

Supporting Westchester’s Next Chapter of Economic Development

Sleepy Hollow’s continued evolution aligns with the Business Council of Westchester’s longstanding commitment to advancing economic growth, supporting local businesses, encouraging innovation and strengthening communities throughout the county.

Through initiatives such as the Westchester Innovation Network (WIN), the BCW works to foster collaboration among businesses, municipalities, entrepreneurs and academic institutions, helping communities identify opportunities for innovation and sustainable economic development.

Sleepy Hollow has also participated in WIN’s City Labs initiative, which connects municipal leaders with innovative solutions and resources to address local challenges and opportunities.

As the village continues to attract investment, expand its business district and welcome new residents and visitors, its transformation serves as an example of how thoughtful redevelopment, public-private collaboration and community engagement can help shape a stronger regional economy.

From its historic streets to its rapidly developing waterfront, Sleepy Hollow’s renaissance is another example of the economic momentum shaping Westchester County’s future.

Source: The New York Times, “Living in Sleepy Hollow, N.Y.: Hardly Sleepy,” by Heather Senison, October 21, 2026.