Real estate developers have taken notice, and several new projects are in the works. “Over the past few years, we have seen a large uptick in the number of applicants coming to the planning board for approvals for subdivisions or development,” said Timothy Sweeney, a broker at Berkshire Hathaway Home Services Nutshell Realty, who is on the town board of Marbletown, which includes the hamlets of Stone Ridge and High Falls. Among the projects under consideration there are one 18-home parcel and another 14-home parcel, he said.
The area’s many attractions are partly what drove Jeff Park and his wife, Leslie Kim, to consider the Rondout Valley. The couple, both 32, live in a one-bedroom in Hell’s Kitchen, and were considering upgrading to a larger apartment. “We went to open houses for two-bedrooms, and it just felt like nothing was enough space,” said Ms. Kim, who works in education.
Instead, the couple began researching real estate upstate, specifically Hudson Woods, an Instagram-friendly development in Kerhonkson with 26 stylish homes featuring Scandinavian design and materials like local bluestone and white oak. The development, which opened in 2014 and is sold out, recently had its first resale. That home, a three-bedroom cabin on six acres with an in-ground pool, sold for $695,000 when it was brand-new in 2014. It was listed at $1.2 million late last year and closed in December for $975,000.
“It was a distressed scenario, because the owners had to move to London and were subject to tax penalties if they did not sell very quickly,” said Drew Lang, the developer of Hudson Woods.
In the end, Mr. Park and Ms. Kim chose not to buy at Hudson Woods, in part because of the proximity of the homes and their similarities in design. The couple chose Waterfall Properties, a nearby development that was begun in 2012 and has five homes set off a private road, surrounded by woods.