While wages have risen 15.7% in the same time frame, they haven't kept pace with borrowing costs.
In July, inventory saw small gains in some counties, but the market is still tight overall.
The analysis projects substantial traffic growth in the corridor over the next 30 years, due both to proposed development and long-term population trends.
The purchaser, Larry Regan of Regan Development Corporation, will be developing the site with a three-story building consisting of 12 units of affordable housing with covered parking.
Built in 1998, Halstead Tarrytown consists of 11 two-story buildings offering a mix of one- and two-bedroom apartments.
The $96-million project, led by WBP Development LLC, will consist of an eight-story residential building with 108 units and a four-level detached parking garage.
Willow at the Ridgeway, which is located at 23 Bishop W.J. Walls Place, is replacing two vacant public housing buildings.
Since 2019, the developments are projected to create over 7,500 new residential units and more than 8,800 construction jobs.
Apicella noted that the Trump administration seems intent on eliminating or severely cutting back on federal green energy funding, which he said is critical to many new development projects.
The project included a rehabilitation of the interior of the original YMCA facility, transforming it into modern apartments.
NYPA will construct the first major commercial office building in Westchester County in nearly a half-century.
According to the unofficial election results from the Westchester County Board of Elections, Jenkins garnered 64% (57,590 votes) to Sculti’s 36% (32,956 votes) with 100% of the votes counted.
The public-private partnership between the City of New Rochelle, State of New York and New York-based development firm Twining Properties will reimagine a former industrial brownfield site along the Long Island Sound.
The new Westchester headquarters positions OLA for continued growth as it remains on a mission to create better, more efficient environments.
Weisz noted that in the past 15 years, the county’s office market has been reduced from 35 million square feet to approximately 26 million square feet.
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