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Deals & Dealmakers


Reynolds Asset Management (Reynolds), in partnership with Circle Squared Alternative Investments, unveiled the first phase of completed apartments at its Violet Estates property, a new active-adult community in Poughkeepsie, NY on April 26, 2022 with a ribbon cutting ceremony. To commemorate the occasion, remarks were given by Dutchess County Regional Chamber of Commerce’s President/CEO, Frank Castella; Community Outreach Coordinator for State Senator Sue Serino’s Office, Lynne Versaci; Town of Poughkeepsie Supervisor, Jon Jay Baisley as well Executive Director of the Dutchess County Industrial Development Agency (IDA) and CEO of Think Dutchess, Sarah Lee. The ceremony culminated in a community planting of flowers on the Violet Estates property to celebrate new growth in the Poughkeepsie housing market.  

 “We are so pleased to be involved with this incredible project to bring beautiful homes to those 55 and older who want to spend their later years in the Hudson Valley,” said Jeffrey Sica, CEO of Circle Squared Alternative Investments. “My daughter recently graduated from Marist College, so we’ve developed a fondness for Poughkeepsie” 

 Violet Estates is located at 35 Violet Avenue in the Fairview neighborhood of Poughkeepsie. When complete, the development will feature 84 units ranging from studios to two-bedroom duplexes. The property will also offer residents 7,000 square feet of community-centric retail, a recreation center featuring a resident lounge and private fitness center, as well as various outdoor amenities such as bocce ball courts and a dog park. Currently, the project is expected to be completed by June 2022.  

 “Making a difference in the communities we invest in is at the core of our mission,” said Lou Reynolds, president and CEO of Reynolds Asset Management. “There is a clear need for housing of all kinds in the Hudson Valley, and we’re thrilled that we can provide options for the 55+ community here in Dutchess County.” 

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