As the popularity of mixed-use developments continues to stay strong throughout the county, the Westchester County Industrial Development Agency approved financial incentives for two developments this week — one in White Plains and one in Pelham. The private investment for the two totals $164.2 million, with sales and mortgage tax exemptions recently approved by the IDA. Together these projects will provide 394 construction jobs and 117 permanent jobs, it says.
Bridget Gibbons, Deputy Director of the Westchester County Office of Economic Development said in a statement, “The financial incentives approved by the IDA will add to the vitality of Westchester’s economy with significant private investment as well as the creation of more than 500 construction and permanent jobs.” These projects will not only contribute to the strength of the local economy, but will also likely boost activity in these two downtown areas.
The White Plains development, The Collection, is to be built across from The Westchester mall, totaling 276 residential units between two buildings, 17 of which will be affordable housing. The project will include a 24,256 sq. ft. retail space and 716 parking spaces, 275 of which will be municipal parking.
The 118,240 square foot Pelham site is to be built at 101 Wolfs Lane. When finished, the property will include 58 residential units and 7,370 square feet of retail space. Five percent of the residential units will be designated for affordable housing.