Pending preliminary steps such as zoning amendments and various impact studies, Westchester could see even more apartments— this time at a warehouse site in Croton-on-Hudson.
The $115 million development would include 280 units with 28 units set aside for affordable housing. The project would create about 1,046 jobs and generate $159 million in economic benefits over two years of construction, as well as $2.4 million taxes annually.
The complex would include 12 studios, 129 one-bedroom units, 123 two-bedroom units and 16 three-bedroom units. The plan also calls for improving the Senasqua Riverwalk access tunnel, adding a dog park and providing shuttle transportation to public transit.
The 5.66-acre property at 1 Half Moon Bay Dr., about one mile away from the Croton-Harmon train station, is currently occupied by a 120,000-square-foot warehouse and distribution center.
More: Developer poised to build affordable condos on parking lot in Croton-on-Hudson
Diversifying Croton-on-Hudson's housing inventory
The project is among a handful of multifamily housing developments that aim at boosting and diversifying the village’s housing inventory.
In Croton-on-Hudson, multifamily housing represents 1.9% of land usage where only 90 new housing units have been added since 2010 and the average median home is over 60 years old, according to the developers.
A 2019 housing needs assessment showed about 17% of 3,000 households in Croton-on-Hudson spent more than half of their income on housing expenses. In August, the median home price was $741,087, according to Zillow.
The affordable units are set aside for households earning 60% of Area Median Income. In 2024, 60% of the AMI is $65,500 for 1 person or $84,350 for a family of three.
More: Study examines 'transit oriented developments' in Lower Hudson Valley communities
An analysis by the developers showed that tenants of the 251 market rate units are expected to have household incomes over $100,000 and projected the apartment could bring in 17 school-aged children. The analysis also showed that the development would not significantly increase traffic nor impede any existing homeowners’ viewsheds as the property “has no direct neighbors and is surrounded by dense, mature trees that are higher than the proposed building.”
The village was designated as one of the first 20 pro-housing communities in the state in February, which offers priority consideration for up to $650M state funding.
Village manager Bryan Healy said while the village has not received any funds tied to being a pro-housing community, they have submitted applications for grants under the Mid-Hudson Momentum Fund and Capital Improvement Grants that would support pro-housing communities for housing and infrastructure improvement projects.
As of June, 12 communities in Westchester have submitted letters of intent, including Cortlandt, Croton-on-Hudson, Greenburgh, Mamaroneck, New Rochelle, Ossining, Peekskill, Port Chester, Sleepy Hollow, White Plains and Yonkers.
Projects in the pipeline include a 33-unit affordable housing development known as Maple Commons, 25 S. Riverside Ave., 1380 Albany Post Road and 1 Croton Point Ave.
What needs to happen before the warehouse conversion begins?
The developers — which include Monday Properties, KPR Centers and Nexjen Real Estate — are seeking zoning amendments that would allow three-bedroom units and modify the height requirement at the site.
Healy said the application has been referred to the village and county planning boards for review before it goes through the State Environmental Quality Review Act process.
Brian Pugh, mayor of Croton-on-Hudson, said the village is taking “discretionary action” to conduct an independent study that focuses on traffic impact and school enrollment projection, which will be paid for by the developers.
If all goes according to plan, a two-year construction phase is expected to start in 2026.
Helu Wang covers development and real estate for The Journal News/lohud and USA Today Network. Reach her at hwang@gannett.com.
This article originally appeared on Rockland/Westchester Journal News: Croton-on-Hudson needs to diversify housing. This proposed warehouse conversion could help
Most Popular
Comments / 0