New NYPA HQ to Be Big Boost for White Plains
NYPA’s Current Headquarters at 123 Main Street, White Plains
In what will be the first major commercial office building to be built in Westchester County in nearly a half-century, the New York Power Authority (NYPA) recently spent a likely record $30 million to acquire a pad site at the Hamilton Green development property in Downtown White Plains that will eventually be home to a new more than 350,000-square-foot corporate headquarters building.
The big breaking news, which will be a major boon for the economy of Downtown Whtie Plains and Westchester County, was reported this week in Real Estate In-Depth, an online publication of the Hudson Gateway Association of Realtors.
A spokesperson for the New York Power Authority confirmed reports sources gave to Real Estate In-Depth that NYPA had purchased the pad site recently for $30 million from the ownership of Hamilton Green (LRC Construction of White Plains and RXR of New York City).
According to the report in Real Estate In-Depth, Hamilton Green and NYPA are still in negotiations for the design and construction of the new 360,000-square-foot corporate headquarters office building. NYPA is currently headquartered at 123 Main Street in Downtown White Plains but has deemed that building out of date and too expensive to upgrade. NYPA, according to an RFP issued a year and a half ago and recent documents, is currently considering disposing of the more than 417,000-square-foot office building.
The new corporate headquarters transactions stem from an RFP issued by NYPA in August 2023 detailing the company’s search for a new corporate headquarters site limited strictly to the White Plains Central Business District.
In terms of major economic benefits, the new headquarters will retain nearly 1,000 NYPA jobs in White Plains and Westchester County as well as generate hundreds of new construction jobs.
BCW member NYPA will be participating in the BCW’s 2025 Energy Conference to be held March 24, 2025.
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