Construction has begun on a $178 million development that will bring 296 apartments to North White Plains, including 30 income-restricted homes, beside the Metro-North train station.
The BRP Companies project is the first to use New York’s Housing Acceleration Fund, with an $18 million loan helping finance two six-story buildings, Gov. Kathy Hochul announced Tuesday.
What the North White Plains development includes
The apartments will include studios and one- and two-bedroom units. Five will be reserved for households earning up to 60% of area median income, and 25 for households earning up to 110%. The remaining apartments will rent at market rates.
The project also includes 1,000 square feet of ground-floor retail space envisioned for a coffee shop, a publicly accessible park and dog run, and a 383-space garage.
Residents will have access to a fitness center, resident lounge, coworking lounge, event space and patio. The buildings will be all-electric, using heat pumps, and will include electric vehicle charging. They are designed to meet or exceed ENERGY STAR Multifamily New Construction standards.
How the housing fund works
The Housing Acceleration Fund provides low-interest financing to close funding gaps for mixed-income projects that are ready to begin construction. The North White Plains loan carries a 3% interest rate and is to be repaid when construction is complete, allowing the money to support other developments.
Other financing includes $120 million from Merchants Capital, $10 million from the Community Preservation Corporation and $30 million in equity from Basis Investment Group and BRP Companies.
The state says Homes and Community Renewal has created or preserved more than 4,600 affordable homes in Westchester County. The North White Plains development adds apartments near rail service as New York continues a broader effort to increase its housing supply.
New York’s broader housing investment
The state’s $25 billion, five-year housing plan calls for creating or preserving 100,000 affordable homes, including 10,000 with support services, and electrifying another 50,000 homes. Nearly 90,000 homes have been created or preserved under that plan, according to the governor’s office.
The fiscal 2027 budget completes funding for the plan and includes $250 million in capital funding to spur additional housing construction.
White Plains is among more than 460 municipalities certified under the state’s Pro-Housing Communities program. Certification gives communities access to nearly $1 billion in discretionary state funding.
The fiscal 2027 budget also includes changes to the State Environmental Quality Review Act under Hochul’s Let Them Build initiative, intended to speed housing and infrastructure projects and reduce construction costs, alongside executive actions aimed at increasing housing production.
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