Luxury condominiums being built on Haverstraw?s waterfront are benefiting the entire village.

Construction is moving at a rapid rate and already 120 families now call the Haverstraw waterfront home. The developer says the project was never about just filling units, it was also about building the economy in the area. And to that end, new homeowners are being given "hava-bucks," which is money that can be spent in local stores.

The mayor says prior to the construction, the village was collecting $32,000 a year in taxes and this year it will collect more than $300,000. The mayor says at the end of phase one of the development, the village will get more than $1 million in taxes. Also, a public waterfront promenade will be open to all residents.