Westchester IDA Induces Hotel, Multifamily Projects

WHITE PLAINS—The Westchester County Industrial Development Agency approved sales and mortgage tax exemptions for two new development projects on Thursday that will cost almost $52 million to complete.

The IDA approved a sales tax exemption of $380,780 and a mortgage tax exemption of $299,000 for Valhalla, NY-based Ginsburg Development Companies for its $34.9-million Saw Mill Lofts in the Village of Hastings-on-Hudson. The development, to be built on a 7.45-acre parcel, will involve the construction of three rental apartment buildings. A total of 54 market rate apartment units will be featured in two of the buildings, with the center building containing 12 affordable units. GDC will donate a two-acre park to the village and will also build a 100-foot ramped bridge connecting the waterfront property to the South County Trailway.