Village Reaches Tentative Agreement Regarding Sale of Lot A Parcel
Map of Lot A
Rendering of a possible 55-unit building on Lot A.
WBP would pay the Village of Croton-on-Hudson $2.3 million for the Lot A parcel.
WBP intends to construct approximately 55 units on the Lot A parcel, but contingent on the purchase the adjoining privately owned parcel at 1 Croton Point Avenue, would merge that with the Lot A to allow for the construction of approximately 95 units of housing on the site.
At least 20% of the units will be affordable. If the project is for-sale, the affordable units will be available to homeowners at up to 120% of the Westchester County Area Median Income (“AMI”) and, if the project is rental, up to 80% AMI. For the purposes of example, the AMI for a three-person household is $140,600.
Depending on funding sources, the number of affordable units may increase. Specifically, both parties are interested in constructing affordable condominiums on the site if funding from the state and county can be secured for this purpose.