Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
$36 Million Rehab of Affordable Housing Development in White Plains Completed
WHITE PLAINS—New York Gov. Kathy Hochul announced on Aug. 18 the completion of a $36-million rehabilitation of Kingsley House, an affordable housing development for seniors in the City of White Plains. The renovations at the Mitchell-Lama complex upgraded apartment at 41 Barker Ave. upgraded amenities and will improve the building’s safety, promote energy efficiency, and enhance the quality of life for 163 senior households, state officials said.
“Our investment in Kingsley House ensures that seniors on a fixed income can remain comfortably housed in White Plains,” Gov. Hochul said. “As rising costs and inflation continue to drive a nationwide affordability crisis, my administration is committed to preserving affordable housing in communities like Westchester County to ensure that all New Yorkers have a safe, stable place to call home.”
Kingsley House was constructed in 1968 under the New York State Mitchell-Lama Program, which provides housing to low- and moderate-income residents across the state. New York State works with owners as they near the end of affordability requirements to provide low-cost financing tools that help maintain and improve the developments while also extending their affordability.
The development features 163 apartments for seniors age 62 and older. All apartments are affordable to households earning at or below 50% of the Area Median Income. The 12-story building has 33 studios, 115 one-bedrooms, 15 two-bedrooms, and one superintendent unit. There is also one commercial space that is currently vacant.
All apartments underwent substantial renovations including installing new cabinets, sinks, flooring, and updated bathrooms.
Improvements to the building’s common areas included new finishes in the library and community room, installation of security cameras, elevator modernization, balcony and façade repairs, a new roof, and a wheelchair-accessible entryway.
The scope of work included numerous energy-efficiency improvements including the installation of new windows and balcony doors, Energy Star-rated appliances, LED lighting, and high-efficiency heating systems, including a new energy management system.
Additional residential amenities at Kingsley House included a communal outdoor patio, library, community room with kitchen area, laundry room, mail room, and ample parking in the adjacent multilevel garage. The Downtown White Plains development is within one mile of several shopping malls, supermarkets, a pharmacy, public parks, a library, and entertainment venues.
State financing for the project included $13.9 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated $10.5 million in equity, and $2.4 million in subsidy from New York State Homes and Community Renewal. HCR is also providing 53 Section 8 Project Based Vouchers.
MDG Design + Construction and partner Smith & Henzy Affordable Group, Inc. are the owners and developers.
Since 2011, HCR has invested $1.4 million to create and preserve more than 7,200 affordable homes in multifamily buildings in Westchester County, including The Overture at Brookfield Commons, which is the second phase of revitalization at the existing Winbrook Houses, a 450-unit public housing development constructed in 1949.
Westchester County Executive George Latimer said, “We want our Westchester County neighbors, no matter what age they are, to know that they are welcome and can make a home here. Affordable housing has been a top priority of my administration since we first took office in 2018, and we want the availability and opportunity for affordable housing to be there in every city, town and village. The Kingsley House helps us carry out that mission in Westchester, by providing safe and decent housing at a price point our seniors can afford.”
White Plains Mayor Tom Roach said, “The Common Council and I are dedicated to preserving and expanding low and moderate-income housing in the City of White Plains. The Kingsley House has served as an important affordable senior building in our city for many years. The completion of this rehabilitation project preserves essential low and moderate-income housing for seniors providing them with quality, energy-efficient housing. I am grateful to HCR, MDG, Smith & Henzy, and the various partners that collaborated to bring this important project to completion.”
The renovation of Kingsley House complements Gov. Hochul’s plan to make housing across New York State more affordable, equitable, and stable. In the FY 2023 State Budget, the governor introduced and successfully secured a new $25-billion, five-year, comprehensive housing plan that will increase housing supply by creating or preserving 100,000 affordable homes across New York including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.