The Daily Freeman reports today that construction of the Walgreen’s on the corner of Broadway and East Chester will begin soon. The contractor is Rondack Construction, a local owner-managed firm based in Red Hook. To learn more about the contractor, see its website here.
Recent projects by Rondack include the First Hudson Valley Bank in Newburgh, an affordable housing unit in Beacon and renovation of the Dutchess Amulatory Surgical Center.
Regarding Walgreen’s, the $60 billion company has been faring well in the recession. As its competitors have posted steep declines in sales and profits, Walgreen’s profits have fallen, but not as much as other companies in the sector. The company had delayed store openings and reduced its debt load over the past year. If the opening in Kingston reflects any changes in strategy, it seems the company is back in an expansion mode. The drug retailer has spent about $2.2 billion on capital expenditures, and with $60 billion in sales could easily spend the same amount over the next few years on new store openings.
1 thought on “Walgreen’s Construction to Begin”
Sorry for the bit of sarcasm here – but you mean to tell me they needed to hire an architect for the building design? What a blight of a building and disgraceful to continue to place such an eyesore in a historic city. Let’s hope that soon, these sort of cinder block nightmares will become a thing of the past.