Marathon Development Group, a Peekskill-based real estate development firm, received approval for $12 million in tax-exempt bond financing to renovate the Madison House, County Executive Robert P. Astorino announced.
Westchester’s Industrial Development Agency approved the resolution for the 99-unit affordable housing complex at 70 Ferris Ave. in White Plains. Construction begins in November, and the project will take 18 months.
The IDA also approved Rye Manor L.L.C.’s $23 million project to renovate 100 units of affordable housing for seniors in Rye. IDA will issue $12 million in tax-exempt bond financing to build a six-story patient care building, five new operating rooms and a bigger outpatient radiology center. The project will create 75 construction jobs, the county executive said.
