Construction will start soon at two major developments in White Plains and Mount Kisco after Westchester County’s Industrial Development Agency (IDA) approved two incentive packages.
The IDA board on June 11 voted for the preliminary approval of incentives for Kirby Commons, a new two-building mixed-use property to eventually include 217 apartments and 53,000 sq. ft. of retail space and community facilities, New York YIMBY reported.
The Mount Kisco development at 17 Britton Ln. and 1 Main St., has estimated construction costs of about $130.5 million. The project is a joint venture of Charter Realty and Development and Gotham Organization, and will received preliminary approvals for about $831,500 in mortgage tax and $3.9 million in sales tax exemptions.
The IDA also granted preliminary approval for what New York YIMBY describes as an “unspecified amount of incentives” to start developing a $100 million mixed-use residential building at 250 Mamaroneck Ave. in White Plains. The property will eventually comprise 177 market-rate rental units and 1,876 sq. ft. of ground-floor retail space.
While “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 Ave.,” the website reported.
The developer is contributing $3.2 million to the White Plains Affordable Housing Fund in lieu of including any affordable units.