One Lyon. Photos courtesy Howard Hanna Rand Realty
The Westchester County IDA voted approval for nearly $20 million in incentives to bring hundreds of new apartments to the Westchester city.
By Carey Gallagher and Dave Zucker
White Plains is about to get a new jewel in the downtown area’s crown, as a vacant senior residence prepares to be transformed into a 212-unit high-end rental community.
Ben Beitel, CEO of Beitel Group, explains, “We believe it is essential to include a comprehensive and top-notch amenity package to create an enjoyable environment in all of our residential communities.” And it’s safe to say that the blueprints for the reinvented 1 Lyon Place are overflowing with such amenities. Residents will be sitting in the lap of luxury with features including a full-time concierge and doorman, outdoor barbecue area, wellness and fitness center, game room, and much more. Of course, Beitel Group can’t forget man’s best friend, so while you’re relaxing by the outdoor swimming pool, your pup can enjoy some pampering in the dog grooming area.
Beitel Group hopes that the development will be successful in bringing a refreshing energy to downtown while continuing to honor the hard work of the city’s current residents. One element that hopes to accomplish this goal will be a rotating art gallery inside One Lyon that will feature exhibits from ArtsWestchester with works by local artists.
To get the ball rolling, the Westchester County Industrial Development Agency (IDA) recently voted preliminary approval for nearly $20 million in incentives for the project. Beitel Group has requested $2.7 million in sales tax exemptions and an additional $664,000 in mortgage recording tax exemptions, as well as a 14-year PILOT agreement estimated at a value of an additional $14 million.
“The IDA is pleased to provide preliminary approval of the One Lyon development,” says Westchester County IDA Chair Joan McDonald. “This project will repurpose two vacant buildings to create a new multi-family community that will include market rate and affordable rental apartments with a wide array of amenities. One Lyon also represents a significant private investment in White Plains and Westchester County.”
In total, One Lyon will accommodate 212 units including 50 studios, 128 one-bedroom, and 34 two-bedroom apartments, of which 13 will be reserved as affordable housing priced at 60% area median income. Demolition at the existing site has already begun, with plans to be completed by December 2022 and occupancy beginning in spring of 2023.
Planned building amenities include a gym with outdoor yoga studio, garden, business center, pet spa, rooftop pool with grilling, a VR/game room, a party room, an art gallery and wine bar, a billiards lounge, storage units, marketplace for household items, coffee shop, movie room, roof deck, package room, refrigerated package room, and dedicated doorman. Parking for the building residents will be available in an adjacent parking lot, with valet parking also offered.
Although it may be difficult to imagine the revitalization of a former senior residence into a luxury rental community, Matthew Rand, CEO of Rand Realty, which will exclusively represent the Beitel Group to bring this project to market, has nothing but faith in the future of One Lyon at 1 Lyon Place as he feels that “this project will be a tremendous success and help redevelop a community in White Plains left abandoned for so many years.”
For more information, 1lyon.com.