Construction Begins on $178 Million North White Plains Housing Development
The 296-unit, transit-oriented development is the first project in New York State to break ground using the state's Housing Acceleration Fund.
Governor Kathy Hochul announced the start of construction on a $178 million mixed-income residential development in North White Plains that will bring 296 new apartments, retail space and a publicly accessible park to a location adjacent to the North White Plains Metro-North station.
Developed by BRP Companies, the project will feature two six-story buildings offering studio, one-bedroom and two-bedroom apartments. Of the 296 residences, 30 will be designated as affordable housing, including five units reserved for households earning up to 60% of Area Median Income (AMI) and 25 units for households earning up to 110% of AMI. The remaining apartments will be market-rate.
The development will include approximately 1,000 square feet of ground-floor retail envisioned as a coffee shop, a publicly accessible park with a dog run, and a 383-space parking garage. Residential amenities will include a fitness center, co-working lounge, resident lounge, event space and outdoor patio.
The all-electric development will incorporate energy-efficient heat pumps for heating and cooling, electric vehicle charging stations and building systems designed to meet or exceed ENERGY STAR Multifamily New Construction standards.
First Project Under New State Housing Acceleration Fund
North White Plains is the first development to break ground through New York State's Housing Acceleration Fund, a financing initiative administered by New York State Homes and Community Renewal (HCR).
The program provides low-interest, revolving loans to mixed-income housing projects that are ready for construction but face financing gaps. The loans are repaid with 3% interest upon project completion, allowing the state to reinvest those funds in additional housing developments.
The project's financing includes $18 million from the Housing Acceleration Fund, $120 million from Merchants Capital, $10 million from The Community Preservation Corporation and $30 million in equity from Basis Investment Group and BRP Companies.
The development is part of New York State's broader $25 billion, five-year housing plan to create or preserve 100,000 affordable homes statewide. According to HCR, the state has created or preserved more than 4,600 affordable homes in Westchester County under the current administration.
Located steps from Metro-North, North White Plains will expand the area's housing inventory while providing residents with access to employment centers, public transportation and neighborhood amenities. The project also demonstrates how public-private financing partnerships can help advance housing construction in communities experiencing continued residential demand.
