$138M Financing Moves 296-Unit North White Plains Development Forward
A major transit-oriented housing development in North White Plains is moving forward with more than $138 million in financing secured for a new 296-unit mixed-use community directly across from the North White Plains Metro-North station.
The North White Plains Workforce Transit Hub, being developed by BRP Companies, will include two six-story buildings with a mix of studio, one-bedroom and two-bedroom apartments. Of the 296 residences, 266 will be market-rate and 30 will have income restrictions. Five apartments will be reserved for households earning between 50% and 60% of Area Median Income, while another 25 will be available to households earning up to 110% of AMI.
The approximately $178 million project is notable as the first development in New York State to close on financing through New York State Homes and Community Renewal’s Housing Acceleration Fund.
The fund was created to provide low-interest financing to shovel-ready mixed-income housing developments that face financing gaps. The North White Plains project is receiving $18 million through the program, alongside a $120.5 million construction loan from Merchants Bank. Additional financing includes $10 million from The Community Preservation Corporation and $29.7 million in equity from Basis Investment Group and BRP Companies.
Beyond its housing component, the development will include approximately 1,000 square feet of ground-floor retail space planned for a coffee shop, a 15,000-square-foot publicly accessible park with a dog run, and a two-level parking garage with 383 spaces. Resident amenities will include a fitness center, lounge, coworking and event space, and a landscaped courtyard.
The project is also designed as an all-electric development using high-efficiency electric heat pump systems and will incorporate electric vehicle charging stations.
Its location directly across from the North White Plains Metro-North station makes the development another significant example of transit-oriented housing growth in Westchester County. The combination of new housing, public space, retail and immediate access to rail transportation reflects the increasing focus on creating housing near existing transit infrastructure.
Construction began in July 2026 and is expected to be completed in the second quarter of 2029.
The project also provides an early example of how New York’s Housing Acceleration Fund could be used to move housing developments from planning to construction by leveraging public investment alongside private financing. The state expects the revolving fund to support approximately $1 billion in housing-related economic investment across New York.
