Westchester County’s Industrial Development Agency recently approved a resolution to provide $30 million in tax-exempt bond financing for the renovation of a Tuckahoe affordable housing project.
Rector Street Development L.L.C. will acquire and renovate the 133-unit Marble Hall complex at 100 Columbus Ave. The proposed plan will cost nearly $46 million and will utilize energy efficient technology to renovate the 10-story building. The construction project will create 78 jobs during the year-long project.
“With the help of the IDA, this project will ensure that these housing units remain affordable, safe, modern and energy-efficient for Westchester families for years to come,” said County Executive Robert P. Astorino in a written statement. “What’s more is that this project will bring good-paying construction jobs to hard working Westchester families. All this is at no cost to the taxpayer.”
