New Affordable Housing Breaks Ground in Mount Vernon
The Business Council of Westchester’s (BCW) President and CEO Marsha Gordon attended the groundbreaking of Opal 115, a transformative transit-oriented development in Mount Vernon that underscores the urgent need for affordable housing in our region.
Gordon hailed the project as a critical step in addressing Westchester County’s housing challenges while fostering economic growth.
“Transit-oriented developments like Opal 115 are essential to retaining and attracting talent in Westchester County,” said Gordon. “This project not only addresses our region’s housing shortage but also revitalizes the local economy by creating a vibrant, connected community.”
Located near the Mount Vernon West Metro-North station, Opal 115 exemplifies the innovative approach needed to meet the housing needs of Westchester’s workforce. This $223 million mixed-use development will offer 315 affordable apartments, nearly half of which will feature two- and three-bedroom layouts ideal for working families. By prioritizing accessibility to public transit and incorporating family-friendly amenities, Opal 115 aligns with the BCW’s vision of sustainable, inclusive growth.
Beyond housing, Opal 115 will contribute significantly to Mount Vernon’s urban landscape with 4,800 square feet of retail space, a nonprofit community facility, an 8,300-square-foot basketball court, and a playground accessible to residents and neighbors alike. The project’s commitment to sustainability is evident through features like solar panels, electric heat pumps, ENERGY STAR® appliances, and an expected LEED Silver certification.
Supported by the inaugural Mid-Hudson Momentum Fund, a $150 million initiative launched by Governor Kathy Hochul in 2023, Opal 115 represents a milestone in regional investment. It complements Governor Hochul’s $25 billion Housing Plan, which aims to create or preserve 100,000 affordable homes statewide. Gordon is Co-Chair of the Mid-Hudson Regional Economic Development Council.
Opal 115’s development team, led by the NRP Group with partners Forward Thinkers Development and Grandview Consulting, received extensive support from state and local agencies, including $83 million in equity from the Federal Low-Income Housing Tax Credit Program and $17 million in Westchester County funding.
As the BCW continues to advocate for affordable housing solutions, projects like Opal 115 demonstrate the power of strategic collaboration in creating vibrant, inclusive communities that benefit businesses and residents alike.
More News
New York State is making more than $62 million available to help communities expand access to safe, affordable and accessible housing across the state. The new funding opportunity, administered through New York State Homes and Community Renewal, will support local governments and nonprofit organizations working to improve existing homes, assist first-time homebuyers, help older adults […]
The BCW applauds Mayor Mike Spano’s announcement of the creation of “Reimagine Central Avenue,” a long-term planning initiative focused on transforming Central Park Avenue to better meet the changing needs of residents, businesses and visitors. Mayor Mike Spano announced the initiative on Aug. 17, outlining a community-driven process that will combine public input with the […]
A Westchester startup is putting cutting-edge fitness technology into the hands of student-athletes at Manhattanville University, thanks to a strategic match by the BCW’s Westchester Innovation Network (WIN). WIN connected ZeroWheel, a high-tech core-training device developed by a team of entrepreneurs headquartered in Armonk, with Manhattanville’s athletic department. The collaboration gave the university’s athletes access […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!