County IDA to Back Rental Projects on Maple Place, State Street worth $118M

OSSINING, NY — County Executive Robert P. Astorino announced Thursday that Westchester’s Industrial Development Agency has issued preliminary approved incentives for two rental apartment projects in Ossining with a total private investment of $118.25 million.

The developments will create approximately 240 construction jobs.

“The two projects approved today by the IDA will provide nearly 300 units of market rate and senior rental housing and affordable units, and will create hundreds of construction jobs for our economy,” said Astorino in the announcement. “These developments will further enhance the exciting revitalization under way in the Village of Ossining.”

Hudson Steppe

According to the IDA, Orb Management of New York City is seeking to develop what was once a vacant textile plant on State Street in Ossining into 189 multifamily rental units.

Called Hudson Steppe, the project will also include 7,500 square feet of office space in the restored historic Smith Robinson house which is located on the six-acre property. Of the total rental units, 19 will be designated as affordable. The $80.5 million project also proposes the county’s first fully automated parking garage for 231 parking spaces which enables 62 percent of the site to be retained as open space. Bounded by State and Hunter streets, Hudson Steppe is in close proximity to the Ossining train station. Hudson Steppe will be built to LEED Gold standards and will also incorporate solar power. Approximately 190 construction jobs will be created over a two-year period. The developer has built and is in the process of developing residential, retail, office and hotel projects in New York City, Miami and Las Vegas.

Maple House Apartments

According to the IDA, Maple House Renewal LLC is seeking to acquire and substantially rehabilitate the Maple House Apartments at 15 Maple in the Village of Ossining into a 105-unit affordable senior rental apartment complex. The building, which consists primarily of one-bedroom units, will include upgrades for current residents to elevators, air handlers, water heaters, kitchen countertops and cabinets, Energy Star appliances, bathroom fixtures and vanities. The first floor of the building will be reconfigured to include a new management office, business center, fitness center, resident storage area, and library/game room. Maple House Apartments was built in 1982. The total investment to acquire and rehabilitate the 100,000-square-foot building is approximately $37.75 million. Approximately 50 construction jobs will be created by the project.

About the IDA

The IDA is a public benefit corporation created in 1976 for promoting and encouraging economic development in the county primarily through assisting in the creation or retention of jobs.

The IDA is also empowered to issue taxable and tax-exempt bonds for organizations meeting federal and state guidelines. There is no financial risk to the county or to county taxpayers. The obligation for repaying the debt rests solely with the organizations.

Any corporation or small company looking to access the low-cost and tax-exempt project financing made available through the IDA or LDC should contact Bill Mooney, director of the Office of Economic Development, at (914) 995-2943 or email billmooney@westchestergov.com.