Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
A host of state, county and village officials turn the first dirt at the 62 Main development, which will involve the adaptive reuse of the Tarrytown YMCA facility.
TARRYTOWN—A host of state, county and local dignitaries were on hand on June 9 for the groundbreaking for 62 Main, a $53-million affordable housing development in the village of Tarrytown that involves the adaptive reuse of the historic YMCA facility.
The development will also entail the construction of an additional building to create 109 affordable and highly energy-efficient homes for households over the age of 55.
62 Main will be constructed on a one-acre parcel in the village with frontage on both Main Street and Windle Park. The four-story Main Street building, originally constructed in 1911, will be transformed into modern apartments with several common areas. Two additional YMCA buildings in the rear of the property will be demolished and replaced with a newly constructed four-story building. The historic Main Street façade will remain intact. The developer of the project is Wilder Balter Partners, Inc. of Chappaqua.
All apartments will be affordable to households with incomes ranging from 30 to 70 percent or less of the Area Median Income.
Building amenities will include a community room with kitchen, fitness center, central laundry room, green roof courtyard, an onsite management office and one superintendent unit. The development will include two levels of underground parking for residents and a ground-level municipal parking garage.
62 Main is designed to meet LEED Homes for Gold certification. Energy-efficiency measures will include geothermal heating and cooling systems, low-flow plumbing fixtures, Energy Star lighting and appliances, and rooftop solar panels that will generate power to supplement the building’s electrical supply.
The YMCA facility currently offers 48 Single Room Occupancy units under an existing regulatory agreement with HCR. All 29 existing SRO tenants have the right to remain in the new development and will not be displaced during construction. The Housing Action Council, a not-for-profit organization based in Tarrytown, will manage the relocation plan.
New York State Homes and Community Renewal’s investment in the development includes $8.5 million in permanent tax-exempt bonds, $16.5 million in federal Low-Income Housing Tax Credit equity and $11.4 million in subsidy. Other state funding includes $85,400 through the New York State Energy Research and Development Authority’s Multifamily New Construction program. Westchester County provided $5 million. Additional financing includes a $9-million subordinate loan from a local Housing Development Fund Company and solar and geothermal tax credits.
“All New Yorkers deserve access to safe and affordable housing in the communities they love,” Gov. Andrew Cuomo said in a statement. “The 62 Main development showcases our unwavering commitment to expanding affordable housing options across the state, including in areas where older New Yorkers on fixed incomes are struggling to find decent housing within their means.”
Westchester County Executive George Latimer said, “We are thrilled that Wilder Balter Partners is putting shovels in the ground at 62 Main in Tarrytown, a building that is rich with history dating back to the early 1900’s. The adaptive reuse of this four-story property, which will ultimately become 109 affordable housing units, will provide one more location for our county’s seniors to live comfortably, and in a place that feels like home to them. Providing fair and affordable housing opportunities to our seniors will always remain one of my top priorities, today’s groundbreaking ceremony is one more step towards accomplishing that goal.”
Tarrytown Mayor Thomas Butler said, “Rich in history, the Village of Tarrytown welcomes the redevelopment of the historic property of the YMCA Building at 62 Main Street. This property, developed by Wilder Balter Partners, will meet LEED Gold Building criteria and preserve Tarrytown’s historic character. The key aspects of this project that specifically benefit the Village of Tarrytown are that it provides 109 units of affordable housing for seniors, it preserves and restores the historic façade of the YMCA building facing Main Street, and it adds 65 much-needed municipal parking spaces for our residents and Downtown Business District.”
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
City and State honored 100 “New Yorkers who are on the front lines, creating jobs and spurring economic growth on the local, state and national levels.”
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