The Westchester Industrial Development Agency (IDA) is now reviewing proposals to construct a new affordable housing development at 8 Chester Avenue in White Plains, New York. Led by developer Keeler Markwood Group, the four-story building will contain 74 units of workforce housing and 40 parking spaces.
The mix of units will include 73 studio apartments and a single two-bedroom apartment for the building’s superintendent. A total of nine units will be designated as affordable housing with rents at 80 percent of the area median income. The remaining units will be priced $500 to $700 a month less than comparable newly constructed apartment units in White Plains.
The main rendering shows the building composed of a red brick façade with the residential volume perched above a ground-floor parking garage. Tenant amenities will include a communal lounge and terrace on the roof of the building, bike storage, and a laundry room.
Total development costs are estimated at $21.8 million. The developer is requesting a sales tax exemption of $537,034 and a mortgage recording tax exemption of $152,700. The IDA conducted a cost-benefit analysis study, which showed that for every $1 of county tax incentives awarded to this project, $2.20 of Westchester County tax revenue will be generated.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Yes yes i like it thank you