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Mount Pleasant IDA Grants Incentives For Hawthorne Multifamily Development
VALHALLA—The Mount Pleasant Industrial Development Agency voted at its July 29th meeting final approval of financial incentives for the construction of a three-story building with 16 apartments and underground parking located at 500 Commerce St. in Hawthorne.
The residential project, which received preliminary approval at the IDA’s June 2 meeting, represents a total private investment of $7.3 million. The project is expected to create 40 construction jobs. In addition, it will generate significant tax revenue for the school district and town. The IDA approved a sales tax exemption estimated at $290,000. The IDA states that the project is seen as an important step toward the revitalization of the Commerce Street corridor between Hawthorne and Thornwood.
The project, which is conveniently located near the Metro-North train station, is being built on the site of a former restaurant. The building will enhance the streetscape along Commerce Street with the addition of new sidewalks. The approximately 36,275-square-foot multi-family building is being built by local developer John Piazza.
“This development perfectly aligns with our Master Plan for revitalizing the Commerce Street corridor. People have been talking about creating a revitalized and walkable corridor along Commerce Street. Now with this exciting new project we are taking significant and meaningful steps toward making that a reality,” said Town Supervisor Carl Fulgenzi who serves as IDA Chairman.