Westchester County IDA Approves Incentives Packages for Two Mixed-Use Developments

Kirby Commons Rendering - Gotham Organization and Charter Realty DevelopmentKirby Commons Rendering - Gotham Organization and Charter Realty Development

Two major developments in Mount Kisco and White Plains will soon begin construction following the approval of two major incentives packages from Westchester County’s Industrial Development Agency. Referred to simply as the IDA, the agency works to facilitate diversification and urbanization of the county through the construction of vibrant mixed-use developments.

At its June 11 meeting, the IDA board voted for the preliminary approval of incentives for Kirby Commons, a new mixed-use property that will eventually yield 217 apartments and 53,000 square feet of retail space and community facilities. Located in Mount Kisco, the development will comprise two buildings located at 17 Britton Lane and 1 Main Street, closest to the Mount Kisco Metro-North Station and Kirby Plaza. Estimated construction costs hover around $130.5 million.

Kirby Commons amenities will include a conference center, communal lounge and co-working spaces, a fitness center, a Zen garden connected to an interior courtyard, and rooftop recreational spaces. The latter will include multiple seating areas, barbecue grills, and a fire pit.

The development is a joint venture of Gotham Organization and Charter Realty Development. The IDA board awarded the pair preliminary approvals for $3.9 million in sales tax exemptions and approximately $831,500 in mortgage tax exemptions.

Voting members also granted preliminary approvals for an unspecified amount of incentives to kick-start the development of a mixed-use residential building at 250 Mamaroneck Avenue in White Plains. The $100 million property will eventually comprise 177 market-rate rental units and 1,876 square feet of ground-floor retail space.

The building will include a mix of one-, two-, and three-bedroom apartments ranging in size from 600 to 1,850 square feet. Residents will have access to courtyard amenity spaces that include a pool, a spa, a garden terrace, outdoor barbecues, a fireplace, and ample seating. Additional amenities beyond the courtyard will include a pet spa, indoor lounge areas, coworking spaces, bike storage, and a conference room.

250 Mamaroneck Avenue Rendering - Southern Land Company

250 Mamaroneck Avenue Rendering – Southern Land Company

Although the White Plains YMCA building will be demolished to make way for the development, a portion of the land purchase price will go to the organization to help realize the construction of a new daycare center in the city as stated by Southern Land Company, the developer responsible for 250 Mamaroneck Avenue.

Southern Land Company is also contributing $3.2 million to the White Plains Affordable Housing Fund in lieu of including any affordable units.

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1 Comment on "Westchester County IDA Approves Incentives Packages for Two Mixed-Use Developments"

  1. Why does NY just give away money like this? We’d be better off eliminating the mortgage tax for residential transactions and get the big boys to pony up their part.

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