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 White Plains, NY - In response to the county’s ever-present need of affordable housing, the County Board has approved a measure to provide 163 affordable rental units in the Village of Sleepy Hollow.
Legislators approved $1.489 million in New Homes Land Acquisition (NHLA) funds toward the purchase of the 2.4 acre site known as College Arms.
“Legislator Lois Bronz, who represents the area, was the prime mover for this important investment for Westchester County,” said Ken Jenkins, who chairs the Board’s Committee on Government Operations. “We must do everything we can to protect existing affordable housing, and this is an excellent project that allows us to do that."
College Arms, located at 100 College Avenue in the village of Sleepy Hollow, was originally constructed as a U.S. Dept. of Housing & Urban Development (HUD) low-income housing project in the early 1970’s. Now in need of rehabilitation and approaching the end of its affordability period, the county will purchase the property through its NHLA program, a fund established specifically for addressing affordable housing needs in Westchester.
“The county, through its NHLA program, continues to make smart investments that add more and more affordable units to the county-wide inventory of housing,” said County Board Chair, Bill Ryan (D-I-WF, White Plains). “This helps our working families remain in Westchester.”
The developer, SH Housing Associates LLC of Peekskill, will finance the rest of the project’s purchase and the bulk of the extensive renovations the current building needs. The housing will remain affordable for a minimum of 50 years.
The College Arms development will include one to three bedroom apartments, ranging from $1,000 - $1,500 per month, which will be rented to households with incomes at or below 60% of the county’s median income.
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