The Orange County Partnership, founded in 1986, has assisted in a total of 873 attractions and expansion projects in 38 years.
Fernandez, who has served as HGAR’s CEO since September 2023, was among three award winners. She joined HGAR after having served as CEO of the Greater Louisville Association of Realtors.
Cohens Fashion Optical signed a 10-year lease for 1,520 square feet at Dunning Farms in Middletown.
The $32-million project consists of renovating, improving and maintaining the life plan community, consisting of 222 residential rental units, administrative spaces and the common amenities.
WHITE PLAINS—The Westchester County Local Development Corporation has announced it granted preliminary approval at its Nov. 25 meeting for $20.6 million in tax-exempt bond financing to fund more than $30 million in renovations at the Kendal on Hudson life-plan community in Sleepy Hollow.
Westchester County Executive George Latimer said: “Kendal on Hudson has long been an integral part of Westchester County and the lower Hudson Valley, providing the highest quality of care for its residents and contributing to the local community. The 30-year tax-exempt bond financing from the Local Development Corporation helps ensure Kendal on Hudson’s long-term viability.”
Westchester LDC Chair Joan McDonald added, “In addition to creating over 50 construction jobs, this project will also provide a total economic benefit to the County of more than $2.2 million at no cost to Westchester County.”
The $32-million project consists of renovating, improving and maintaining the life plan community, consisting of 222 residential rental units, administrative spaces and the common amenities with central dining facilities, a library, fitness center/pool, auditorium, and other shared spaces, across four buildings that are connected by an approximately 50,000-square-foot “spine” and an approximately 8,000-square-foot terrace.
The project is designed to improve accessibility and functionality in both interior and exterior common spaces consisting of the renovation of approximately 48,000 square foot interior areas and a 6,500 square-foot exterior terrace renovation as well as the addition of an approximately 1,600 square feet of common space.
The project will create 52 construction jobs, including 36 direct jobs for Westchester County residents during the construction period representing $5.5 million in employee earnings and more than $9.3 million of economic activity within Westchester County.
According to a cost-benefit analysis prepared for the LDC, the project will result in a total benefit to the county of $2,160,840 at no cost to the county. Kendal on Hudson is not requesting a mortgage recording tax exemption. The annual economic activity resulting from the project is expected to retain 248 jobs, $19 million in earnings, and $40 million in economic output for Westchester County. Project renovations are expected to begin in 2025 and will take approximately 24 months to complete.
The Orange County Partnership, founded in 1986, has assisted in a total of 873 attractions and expansion projects in 38 years.
Fernandez, who has served as HGAR’s CEO since September 2023, was among three award winners. She joined HGAR after having served as CEO of the Greater Louisville Association of Realtors.
Cohens Fashion Optical signed a 10-year lease for 1,520 square feet at Dunning Farms in Middletown.
The citywide rezoning will enable the creation of 80,000 new homes over the next 15 years and invest $5 billion, which includes $1 billion in state funding, towards critical infrastructure updates and housing.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
