New Development in Westchester Includes Office, Hotel, Housing, Shopping and Entertainment
A five-story hotel in Tuckahoe, a mixed-use shopping, housing and entertainment complex in Dobbs Ferry, and a White Plains office building are on track for development, supported by incentives approved by the Westchester County Industrial Development Agency (IDA) last week. The three major economic development projects will create more than 940 new permanent positions and 725 construction jobs, according to county officials. The IDA approved over $3.3 million in tax exemptions for the projects.
“Each of the developments in some way repurposes, revitalizes, or renovates space across Westchester—invigorating our commercial inventory,” said Marissa Brett, WCA president. “The WCA advocated for much of this development, through our BLUEPRINT for Westchester economic development initiative. “Moving these projects forward with the support of the IDA is a sign that Westchester County is not only open for business, but we are also ready to grow our economy.”
• Rivertowns Square commercial mixed-use complex: This $52 million project is set on 17.7 acres located off the Saw Mill Parkway in Dobbs Ferry and will include an eight-screen cinema, grocery, shopping, restaurants, hotel, residential units, and child care space. It is set to receive over $1.6 in tax incentives and projected to create 660 full and part-time jobs, plus 475 construction jobs.
• Tuckahoe Marriott Springhill Suites: Approved for $1.4 million in tax incentives, this $25 million hotel development will create 80 permanent and 200 construction jobs, according to developers. The hotel will include 163 rooms, meeting space, and amenities on 3.5 vacant acres in Tuckahoe.
• White Plains Downtown Office Building: The renovation of 101 East Post Road in downtown White Plains is expected to cost $6 million, offset by $329,250 in tax incentives through the IDA. Developers say 50 construction jobs and up to 200 new permanent jobs in the downtown business district will be created as a result of the renovations. Once complete, the four-story building could accommodate a single tenant or multiple tenants, according to news reports.
Westchester County Executive Rob Astorino also emphasized employment growth in his announcement of the incentives. “These businesses have said ‘Yes’ to Westchester and chose to invest here because we are committed to creating an environment that allows them to thrive and succeed. Job creation is how we move Westchester forward,” he said.
Any corporation or small company looking to access the low-cost and tax-exempt project financing made available through the IDA should contact Jim Coleman, executive director of the IDA, at (914) 995-2963 or email@example.com.