IDA Approves Incentives for Two White Plains Projects
The Westchester County Industrial Development Agency (IDA) unanimously approved financial incentives for two mixed-use residential developments in White Plains at its Oct. 25 meeting.
Saber Chauncey WP, LLC was approved for $3,348,609 in sales tax and mortgage recording tax exemptions for The Collection, a $136.2 million mixed-use project consisting of 276 residential units in two buildings on Westchester Avenue and Franklin Avenue.
Located across from The Westchester mall, The Collection includes 24,526 square feet of retail space and 716 parking spaces of which 275 will be for municipal parking. Seventeen of the residential units will fall under the White Plains affordable housing program.
According to the IDA, the project is expected to create 250 construction jobs and 91 permanent jobs.
The other White Plains project, Westmoreland Lofts, LLC, received approval from the IDA for $867,000 in sales tax and mortgage recording tax exemptions for a mixed-use project located at 138-158 Westmoreland Avenue.
The $19.3 million development consists of 62 residential units with amenities, a rooftop terrace and ground floor retail/commercial space. Ten percent of the residential units will be affordable.
The project is estimated to create approximately 35 to 40 construction jobs and 16 permanent jobs.
