Westchester’s office market transformation has captured the attention of The Wall Street Journal, which today published “Reawakening Westchester’s Office Market.” The article reads in part, “Medical tenants are remaking spaces left behind by large corporate operations into clinics, labs and research centers. On developer might put housing in a White Plains office district, and another firm plans to tear down two office buildings in Harrison and replace them with upscale apartments.”
What a difference a few months make! The news about young people leaving Westchester County’s wealthiest towns in droves, released in a report by Community Housing Innovations last February, has improved. According to a recent analysis of the latest U.S. Census Data, several Westchester towns saw a reduction in the numbers of 25- to 34-year-olds exiting their communities, and some revealed gains. The latest data were presented at recent event at Purchase College, SUNY, by Alexander Roberts, the executive director of the affordable housing advocacy group, who said communities with less expensive housing have shown better results.
Do a Google search for “Yonkers development,” and you’ll see pages and pages of results featuring phrases like “smart development,” “new construction,” and “transformation.” Articles on Yonkers’ growth are popping up everywhere—and there are plenty of reasons to believe the hype, starting with the recent ribbon cutting at the Library Lofts, a multi-million dollar mixed-use redevelopment project of the Yonkers Library. The mixed-use project includes 23 new luxury loft apartments, complete with modern touches and amenities, and 9,000 square feet of street-level retail space...
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.
Health innovation is huge news in Westchester County. In recent weeks, we’ve heard about new investigative research for advanced-stage breast cancer taking place at Northern Westchester Hospital; revolutionary work at the new Montefiore Einstein Center for the Aging Brain that’s changing our understanding of how degenerative dementia and other age-related neurological diseases begin; and, Regeneron Pharmaceuticals announced positive results for drug trials involving patients affected by rheumatoid arthritis. This is but the tip of the iceberg, according to WCA president, Marissa Brett.