Highly Energy-Efficient, All-Electric Development Brings 82 Affordable Apartments to Peekskill’s Main Street
Complements City’s Downtown Revitalization Initiative Strategy by Expanding Affordable Housing Options Downtown
Governor Kathy Hochul today announced the completion of a $51 million, all-electric affordable housing development that will bring 82 affordable apartments to downtown Peekskill in Westchester County.
“This development at 645 Main Street marks the next step in our work to make Westchester County and all of New York State more livable and more affordable,” Governor Hochul said.“ By adding diverse, energy-efficient housing options in thriving and transit-friendly cities like Peekskill, we are tackling New York’s housing shortage head on and expanding the possibilities for every family who wants to call New York home.”
The development, known as 645 Main, furthers the city’s goal of increasing affordable housing options as part of its $10 million New York State Downtown Revitalization Initiative award that it received in 2019.
The development includes 82 apartments affordable to households earning between 40 and 80 percent of the Area Median Income, and a 140-space parking garage. There are 18 one-bedroom apartments, 50 two-bedroom apartments, and 14 three-bedroom apartments. 645 Main was constructed on a two-acre remediated brownfield site. The five-story building has frontage on both Main Street and Central Avenue.
The development was designed to meet the requirements of the New York State Energy Research and Development Authority’s Low-rise Residential New Construction program and was also designed and certified by the U.S. Green Building Council under LEED for Homes Gold. Sustainable features include a rooftop photovoltaic solar array, high-performance building envelope, high-performance heating and cooling conditioning systems, and low flow plumbing fixtures. The parking garage features a landscaped rooftop courtyard with underground stormwater infiltration system that retains surface water onsite to reduce the burden on the municipal system, and 30 EV charging stations.
Additional residential amenities include a community room leading to the rooftop courtyard, quiet and active lounges, fitness center, laundry room, and an onsite management office. The building is a short walk from the Peekskill Metro-North station.
The developers are the Housing Action Council and Wilder Balter Partners, Inc.
Financing for 645 Main included $8.9 million in permanent tax-exempt bonds, $12.1 million in federal Low-Income Housing Tax Credits, and $12.3 million in subsidy from New York State Homes and Community Renewal.
The construction fulfilled the requirements of the New York State Department of Environmental Conservation's successful Brownfield Cleanup Program, which resulted in $6 million in tax credits issued by the New York State Department of Tax and Finance. NYSERDA provided $171,990 through the NY Sun Multifamily Affordable Housing Incentive program and is expected to provide an additional $69,200 through Low-rise Residential New Construction Program. Westchester County provided $5.7 million from the Housing Implementation Fund and $2.3 million from the New Homes Land Acquisition Fund.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “645 Main has transformed an undeveloped brownfield site into a sustainable, all-electric development with 82 affordable homes. In addition to the many amenities and green features, residents will be able to enjoy Peekskill’s walkable downtown and easy access to public transit. Governor Hochul’s housing agenda calls for more developments like this one that expand housing opportunities near transit while making New York a healthier and more affordable place to live.”
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