The Westchester County Industrial Development Agency (IDA) recently approved Toll Brothers‘ $32 million acquisition of development rights and financial incentives for The Collection, a mixed-use development on the eastern edge of downtown White Plains.
The IDA originally granted building rights and tax exemptions in excess of $3.3 million to the local arm of Saber Chauncey Real Estate Advisors. According to Saber Chauncey principal Martin Berger, the concept of the development had shifted from largely retail to a majority residential building. Saber Chauncey’s existing portfolio and ongoing projects primarily include retail, commercial, and hotel properties.
The Collection campus will eventually include two adjacent buildings located at 138-158 Westmoreland Avenue and 81-100 Westchester Avenue. Together, the structures will contain 24,526 square feet of retail space, 716 parking spaces, and 276 residential units. A portion of the residential component will be reserved for low-income households and individuals.