Westchester & Fairfield Cheat Sheet: $120M mixed-use project pitched for White Plains, Urstadt Biddle expands investment in Stamford mall … & more

New York /
Jun.June 15, 2017 05:30 PM

Developers pitch a $120M mixed-use project in White Plains, opposite the Westchester mall

Two Westchester Avenue parcels in White Plains may be developed into “The Collection,” a complex containing retail, restaurants, 276 rental apartments and a parking garage. The 3.1-acre plot sits across the street from the Westchester mall. A zoning request, submitted by Saber White Plains LLC and Chauncey WP LLC is currently under review. The developers are near the completion of a $150 million project, Rivertowns Square in Dobbs Ferry. [Lohud]

Urstadt Biddle Properties plans greater investment in Stamford mall

Having initially invested $5.4 million in the High Ridge Shopping Center in Stamford, Greenwich-based Urstadt Biddle Properties is planning to issue stock to raise money to buy a larger stake in the popular mall. The shopping center, which currently houses a Trader Joe’s, Starbucks and several other vendors, recently generated about $3.5 million in revenue in its most recent quarter reports, according to Greenwich Time. Earlier this year, Urstadt Biddle also acquired Derby’s Pershing Square Shopping Center for $9 million. [Greenwich Time]

$1.5 million tax break sought by Stagg Group for Yonkers complexes

In an application submitted to the Yonkers Industrial Development Agency, Purchase-based firm the Stagg Group requested $1.5 million in tax breaks for the construction of two residential complexes in Yonkers. The developer’s projects would create a total of 204 units at 411 and 705 Bronx River Road. Both plots of land have gone unused for years, LoHud.com reported. A hearing is scheduled for June 21. [Lohud]

In a bid to increase competition, Rye Town Park eyes longer restaurant leases

Rye Town Park restaurants may soon be signing 20-year leases if the local commission manages to get two proposed state laws passed. Current standard contracts are three years and state law requires the commission to seek approval for anything beyond that. The park is jointly owned and funded by Rye City and Rye Town and is operated by the six-member Park Commission. “A longer term lease could encourage broader competition for restaurant tenants,” said a sponsor of the bill, Assemblyman Steve Otis, of Rye. [Lohud]

Affordable housing tax breaks weighed for Mount Vernon apartment complexes

The Pointe, a proposed $104.9 million mixed-use project with 350 units of affordable housing, is the largest of three new projects being considered for tax breaks by the city of Mount Vernon. The project’s developer, New York City-based MVP Realty Associates requested a $625,268 mortgage-tax exemption and a $3.6 million sales-tax break, LoHud.com reported. Greater Centennial Homes Housing Development Fund Company and ventilating contractor LTB Mechanical Corp also submitted requests. [Lohud]

Scarsdale parking garage redevelopment at center of community debate

Scarsdale’s Freightway Steering Committee is asking the local community to weigh in on potential redevelopment plans for the 2.38-acre parking lot and garage next to the Metro North station. “This site really lends itself to transit-oriented development that you’re seeing up and down the train lines … for mixed-use development as well as the parking,” village planner Elizabeth Marrinan told LoHud.com. She estimated that a new garage on the site, which currently accommodates 700 parking spaces, would cost $25,000 to $35,000 per space. [Lohud]

 

Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)
Nonprofit plans affordable housing development near Essex Crossing
Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
The State Building and Construction Trades Council president Robbie Hunter (CA Building Trades, iStock)
California could require union labor on all affordable housing projects
California could require union labor on all affordable housing projects
Renderings of The Eliza Apartments at the Redeveloped Inwood Library (New York Housing Conference)
Inwood affordable housing project moves forward after rezoning fight
Inwood affordable housing project moves forward after rezoning fight
611 St. Johns Place, Brooklyn, NY (Getty)
Workforce Housing Group solar deal will also pay for broadband
Workforce Housing Group solar deal will also pay for broadband
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
322 Grand Concourse in the Bronx and Martin Nussbaum of Slate Property Group and Scale Lending (Google Maps, Slate)
Bronx multifamily development gets $63M loan
Bronx multifamily development gets $63M loan
Council member Rafael Salamanca Jr and Public Advocate Jumaane Williams (Getty, Facebook via Salamanca Jr.)
City Council to require racial equity reports for rezonings
City Council to require racial equity reports for rezonings
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...