Over 530 Million Dollars In New Industrial Projects In Westchester NY

Over 530 Million Dollars In New Industrial Projects In Westchester NY

The Westchester County Industrial Development Agency (IDA) recently granted approvals for more than $531 million for Pelham, White Plains and Harrison new development projects. 

A Resolution of Intent was granted by the IDA to provide financial incentives for a transit oriented, mixed-use residential project in the Avalon Bay Community for almost $77 million.  This is planned to be built near the Harrison Metro North Train station. 

Preliminary approval has also been granted by the IDA for $1.35 Million in sales tax exemptions for a three-building project featuring 143 rental units including seven affordable units and 27,000 square feet of commercial space.  Further plans are in the works for a new multi-level parking garage for Metro-North Railroad.  Also included in the project are two landscaped plazas connecting the train platform with Halstead Avenue.  Monthly rents are anticipated to be $2,500 for one-bedrooms and 3,000 for two-bedroom units.  Groundbreaking is scheduled for spring 2019.

The largest project approved by the IDA in this session is a $223.4 million mixed use project at 131 Mamaroneck Avenue in White Plains.  This will have 434 units, of which 27 will be affordable units and 8,000 square feet of retail space. 


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Shaun Manning Headshot
Author:
Phone: 347-612-9825
Dated: January 15th 2019
Views: 49
About Shaun: Shaun's focus is on residential real estate in Fairfield, Westchester, Putnam, Dutchess and the surr...

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