Wilder Balter Partners Breaks Ground on Affordable Housing in Peekskill
A groundbreaking ceremony was held Wednesday for a $50.8 million affordable housing project to be built on what had been a hillside sloping down from 645 Main St. to 638 Central Ave. in Peekskill.
The developer is Wilder Balter Partners of Chappaqua. Plans call for 82 apartments and a 142-space garage. The building is designed to be energy efficient and will include solar panels to generate much of the electricity for the building.The state’s New York State Homes and Community Renewal division is providing most of the funding with the Westchester County Housing Implementation Fund contributing $5.7 million and the county’s New Homes Land Acquisition fund contributing $2.3 million.
Partner Bill Balter said that the sloping topography made construction a bit of a challenge, but that the proximity to schools, library and the downtown made it an excellent location for the complex.
“When complete 645 Main will be home to 82 families and the apartments will be affordable at between 40 and 80 percent of the Westchester County area median income,’’ said Balter. “That translates into apartments that are as inexpensive as $900 a month including heat and hot water which is a rare opportunity.’’
Westchester County Executive George Latimer said that affordable housing allows essential services workers like nurses, firefighters and teachers who might not otherwise be able to afford market rate housing to remain and contribute to the community.
“We want affordable housing,’’ said Latimer. “You have a stronger community when you have affordable housing. It’s not ruining the community, it’s saving the community.”
Marsha Gordon, President and CEO of the Business Council of Westchester, said the project was another step forward in Peekskill’s revitalization. She pointed to its selection by the state’s Regional Economic Development Council for its Downtown Revitalization Initiative.
“This is another example of a successful private-public partnership,’’ said Gordon. “Exciting things are happening in Peekskill.’’
Similar News Items
The Business Council of Westchester (BCW) hosted a dynamic panel discussion on Monday at Pace University, bringing together a diverse group of experts to explore the critical issue of establishing ethical standards and regulations for artificial intelligence. “Governing the Future: The Ethical Frontier of AI Regulations and Policy” was part of the BCW’s AI Alliance […]
Bringing its exceptional brand of care to assisted living and memory care, BCW Member Broadview at Purchase College held a grand opening ceremony on Wednesday for its High Point Center for Care. More than 200 people attended the reception and ribbon-cutting ceremony for the new center, which incorporates Broadview’s signature concept of intergenerational and lifelong […]
Governor Kathy Hochul has announced that $200 million in funding is available through the State’s two signature downtown revitalization and economic development programs—$100 million each for Round 9 of the Downtown Revitalization Initiative (DRI) and Round 4 of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. Together, the two programs have […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!
Leave a Comment
You must be logged in to post a comment.