The plan to build a mixed-use building close to the Metro-North Railroad station in Tarrytown has entered a new phase of activity with the naming of Houlihan Lawrence Commercial as the project’s exclusive leasing agent.
The project’s developer is Lexington 202 Group LLC of Bedford Hills. Located at 29 Depot Plaza, the project is composed of a 20,000-square-foot warehouse that will be renovated into ground-level self-storage and retail space with three stories of residential units for a total of 69 units. A 4,000-square-foot freestanding building is being rehabbed for a brewpub with a regionally known brewery.
Bryan Lanza of the Houlihan Lawrence Commercial, Klein-Lanza Team is handling the leasing of the retail space and Michael Criscuolo of the brokerage’s Irvington office is in charge of the residential leasing.
The train station has the second highest ridership on the Hudson Line with nearly 6,000 commuters daily, Lanza said. “This is an exciting and innovative project that is ideally positioned to benefit from the growing demand in the region for transit-oriented developments. “
The project was still being reviewed by the village as of Oct. 10 and awaiting necessary approvals.
David Smith, principal at land use planning and real estate development consulting firm Planning & Development Advisors, appeared at a public hearing on the project at the Planning Board’s Aug. 26 meeting and said that of the 69 apartments, 9 would be studios, 48 would be one-bedroom and 12 would be two-bedroom units. Smith said that the projected rents are $1,300 to $1,500 for a studio, $2,000 to $2,200 for a one-bedroom, and $2,500 to $3,000 for a two-bedroom.
Smith said that the project could be expected to produce $380,000 in taxes for the village, school district and county, which would be $310,000 more than the property had been producing.
The footprint of the building is to be 24,000 square feet and its four stories would contain a total of 90,000 square feet of space.