Cuddy & Feder Obtains IDA Approval for 89M Multifamily Development in White Plains
Cuddy & Feder Partner, Eon S. Nichols, obtained IDA approval from the County of Westchester Industrial Development Agency (IDA) for an $89 million multi-family development in White Plains developed by Mill Creek Residential Trust. Eon obtained a PILOT as well as $5.09 million in sales tax exemptions and an additional $596,000 in mortgage recording tax exemptions.
The proposed project located at 39 Westmoreland Avenue in White Plains, will contain 189 rental apartments containing studio units to three-bedroom units. Twelve percent of the units will be provided at or below 80 percent area median income. Amenities will include a fitness center, a recreational garden, co-working space, a pet spa, grilling stations, a lounge, a roof deck and a small public park.
About Cuddy & Feder LLP
Cuddy & Feder LLP proudly serves clients in the areas of real estate; public and private finance (including tax-exempt and taxable bond financing); litigation & appellate practice; land use, zoning & development; telecommunications; energy & environmental; cannabis law; non-profit organizations; and trusts, estates & elder law. For 50 years, we have established ourselves as the leading law firm serving a vast region that includes Westchester, New York City, Connecticut and the Hudson River Valley. Our foundation is local, and we enjoy enduring relationships with leaders, institutions and decision-makers in the communities we serve.