Governor Hochul Announces Start of Construction on $178 Million Housing Development in Westchester County

North White Plains Brings Nearly 300 Apartments and Retail to White Plains, Steps From Metro-North

Development Is First Project to Break Ground Under Governor Hochul's Innovative Housing Acceleration Fund

Governor Kathy Hochul today announced the start of construction on North White Plains, a $178 million mixed-income, transit-oriented development that will create 296 new apartments in the city of White Plains. The development, which will feature two six-story buildings, retail space and a publicly accessible park, is the first development to utilize the Governor's Housing Acceleration Fund, an innovative program designed to jumpstart construction of shovel-ready mixed-income housing projects across New York State. Under Governor Hochul's leadership, New York State Homes and Community Renewal (HCR) has created or preserved more than 4,600 affordable homes in Westchester County. North White Plains continues this progress and is part of the Governor's $25 billion five-year Housing Plan, which is on track to create or preserve 100,000 affordable homes statewide.

“To combat the state’s housing crisis and deliver more housing options for New Yorkers, we have to be creative and use every resource at our disposal to accelerate new development,” Governor Hochul said. “Today we’re putting shovels in the ground on a great new housing development in Westchester that hundreds of households can soon call home. With smart, innovative programs like the Housing Acceleration Fund, we’re delivering projects like this to New Yorkers even faster. That’s how we build an affordable and more liveable New York.”

Developed by BRP Companies, North White Plains will include a mix of studios, one-bedroom and two-bedroom apartments designed to serve households of varying sizes. Five of the affordable homes will be reserved for households earning up to 60 percent of Area Median Income (AMI) and 25 will be reserved for households earning up to 110 percent of AMI. The remaining apartments will be market-rate.

Located adjacent to the North White Plains Metro-North station, the project will connect residents to job opportunities throughout Westchester County and New York City while encouraging a walkable, transit-oriented lifestyle close to dining and retail.

North White Plains will include a fitness center, resident lounge, co-working lounge, event space and patio. There will be a 1,000-square-foot ground-floor retail space envisioned as a coffee shop. The development will also include a publicly accessible park featuring a dog run, as well as a 383-space parking garage.

The all-electric project will include electric heat pumps for heating and cooling, electric vehicle charging, and is designed to meet or exceed ENERGY STAR Multifamily New Construction standards.

Financing for North White Plains includes a mix of public and private sources, including $18 million from the Housing Acceleration Fund, $120 million from Merchants Capital, $10 million from The Community Preservation Corporation, and $30 million in equity from Basis Investment Group and BRP Companies.

Administered by HCR, the Housing Acceleration Fund provides low-interest, revolving loans to shovel-ready mixed-income housing developments that face financing gaps preventing construction from moving forward. The program leverages public capital to attract private investment and accelerate housing production. HCR's financing is repaid with three percent interest upon project completion, allowing the State to reinvest the funds in additional housing developments.