Station Plaza to Provide 108 Affordable Homes, Community Space and Public Amenities

BCW Member WBP Development joined with State, County and Village officials on April 3 for the groundbreaking of Station Plaza, a $96 million transformative project consisting of an eight-story residential building with 108 units and a four-level detached parking garage. Each apartment will be designated for households earning at or below 80 percent of the Area Median Income, ensuring affordability for a diverse range of future residents. 

In a statement, Gov. Kathy Hochul said, “The solution to the housing crisis is simple — we have to build more housing. Affordable, transit-oriented developments like Station Plaza in Westchester will unlock opportunities for generations of New Yorkers and create new pathways for families to thrive.”  

William Balter, President of WBP Development LLC said, “We are excited about our public private partnership with the village of Ossining, Westchester County and New York State that has allowed for this transformation redevelopment of a fallow brownfield site into mixed-income affordable housing, community space, neighborhood retail and a linear park connecting the downtown with the waterfront area of the village.”  Balter is one of the founding members of the BCW’s Smart Development Working group. He is also a former BCW Hall of Fame Winner.

Located at 30 Water Street, Station Plaza will feature modern amenities, including a roof deck, fitness facilities, free in-unit Wi-Fi, coworking spaces and a communal laundry area. The development will also include a 3,400-square-foot retail space, a 4,000-square-foot community facility and a 64,000-square-foot parking structure offering 195 spaces, 150 of which will be designated for tenants at no charge, with 45 reserved for public use. Additionally, the project will provide residents with access to a linear public park and an extension of the Sing Sing Kill Greenway. 

Project financing from New York State Homes and Community Renewal includes $57.2 million in tax exempt bonds, federal Low-Income Housing Tax Credits that will generate $3.4 million in equity, $17.8 million from the New Construction Program and $4.9 million from the New York State Housing Trust Fund. Westchester County provided $4.4 million from its New Homes Land Acquisition program.

The project also benefits from participation in the Department of Environmental Conservation’s Brownfield Cleanup Program, and upon successful completion of environmental cleanup work, could be eligible for $11 million for land remediation and redevelopment and $2.5 million in sustainability-focused equity in the form of tax credits to be issued by the New York State Department of Tax and Finance.