News

Business Council Taps Two Economic Development Execs. to Board of Directors

June 2019

RYE BROOK—In a move to bolster its planning and economic development expertise, the Business Council of Westchester has named Wilson Kimball, Commissioner of Planning and Development for the City of Yonkers and Luiz Aragon, Commissioner for Development for the City of New Rochelle, to its Board of Directors. “We are truly honored to have these…

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Savvy Affair Holds Annual Benefit for Autism Speaks

June 2019

EASTCHESTER—A Savvy Affair’s Ninth Annual Benefit for Autism Speaks was held at Mulino’s at Lake Isle on Thursday May 16th. At the event, A Savvy Affair also celebrated its 10th year of hosting events, and fundraisers throughout Westchester and New York City. Michelle Madaffari, who is the CEO of A Savvy Affair Inc, is an…

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Learn More About the CFA Process

June 2019

WHITE PLAINS—The Westchester County Office of Economic Development is urging businesses, organizations and municipalities to attend informational workshops being held this month to learn more about funding opportunities in the next round of the Mid-Hudson Consolidated Funding Application (CFA). The Westchester County Office of Economic Development will hold a series of informational sessions throughout Westchester…

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Wells Fargo to Sell Eastdil Secured in Management Buyout Deal

June 2019

NEW YORK—Wells Fargo & Co. announced on June 11 it had reached an agreement to sell Eastdil Secured, its private real estate investment banking division, in a management buyout transaction. The sales agreement follows Eastdil’s management-led recapitalization, in partnership with Guggenheim Investments, on behalf of certain institutional clients, and Temasek, a global investment company headquartered…

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NAHREP Launches Westchester County Chapter

June 2019

WHITE PLAINS—The National Association of Hispanic Real Estate Professionals officially launched its Westchester County Chapter recently with a kick-off party at an office rooftop in White Plains. The event drew more than 150 people and included special guest Chef Barret Bayer of the “Hell’s Kitchen” and “Million Dollar Listing” TV shows. NAHREP currently has more…

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Hudson Valley Region Renters and Homeowners Struggle with Affordability

June 2019

ALBANY—The affordable housing crisis continues in New York State, according to a report released on June 6 by New York State Comptroller Thomas DiNapoli. The report stated that nearly 1.4 million households paid half or more of their income in 2017 towards housing costs. “The high cost of housing can force some New Yorkers to…

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White Plains Releases Long Awaited RFP For Redevelopment of Transit District

June 2019

WHITE PLAINS—The City of White Plains announced on June 6 that it had released the long-awaited Request for Proposals for interested development firms to redevelop three city-owned properties and one Urban Renewal Agency parcel in the city’s Transit District. The four parcels total approximately 4.5 acres and are located along the easterly side of the…

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CVS Signs Lease at The Rockwell Project in Downtown New Rochelle

June 2019

NEW ROCHELLE—Real estate development firm YoungCraft announced on June 4 that CVS Pharmacy signed a multi-year lease for 13,200 square feet of retail space at “The Rockwell,” the company’s mixed-use project currently under construction on North Avenue here. CVS will re-locate its current store at 625 North Ave., down the block to the brand-new “Rockwell”…

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Report: Southeast Benefitting from Significant Northeast Migration

May 2019

NEW YORK—A recently published report by Bloomberg News reveals some unsettling news for New York State businesses and the real estate industry here. The report, an analysis by Bloomberg of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau, shows that New York and Connecticut are losing billions in…

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IDA-Issued Tax Breaks in NY Continue to Rise

May 2019

ALBANY—New York’s Industrial Development Agencies provided a total of $751 million in net tax exemptions for local economic development projects in 2017, an increase of more than 5% from the previous year, according to a report issued on May 29 by New York State Comptroller Thomas P. DiNapoli. The Mid-Hudson ($175 million) and Long Island…

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River Club at Hudson Park Project Opens in Yonkers

May 2019

YONKERS—Strategic Capital, the investment arm of China Construction America, recently hosted an exclusive ribbon-cutting ceremony for the River Club at Hudson Park luxury rental apartment tower on the Hudson River waterfront here. The ceremony was attended by Ning Yuan, CCA Chairman and President and Strategic Capital Chairman and CEO; Huang Ping, Consul General of China…

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Westchester Medical Center to Open $230M Pavilion Later This Month

May 2019

VALHALLA—Officials with the Westchester Medical Center unveiled its $230-million new Ambulatory Care Pavilion on May 16th in advance of its opening later this month. The new, 280,000 square-foot, eight-story Ambulatory Care Pavilion, Westchester Medical Center’s new focal point for ambulatory care services will host its first patients later this month. The hospital, the flagship of…

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Mortgage Applications Increase in Latest MBA Weekly Survey

May 2019

WASHINGTON—Mortgage applications increased 2.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2019. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…

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HGAR’S Commercial Investment Division to Host ‘Women in Commercial Real Estate Panel' on June 6 in White Plains

May 2019

WHITE PLAINS—The Hudson Gateway Association of Realtors’ Commercial Investment Division will hold a “Women in Commercial Real Estate” panel discussion on June 6 at the HGAR offices in White Plains.The program, which will begin at 9 a.m. will feature panelists Patricia Valenti, Executive Managing Director, Newmark Knight Frank (Moderator); Joanna Simone, Vice President of Leasing…

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Westchester County Picking First Entrepreneurs For New Element 46 Incubator Initiative

May 2019

WHITE PLAINS—In coming weeks, the Westchester Office of Economic Development will be putting the finishing touches on its groundbreaking new Element 46 incubator initiative. Westchester County Executive George Latimer recently announced the launch of the Westchester Element 46 incubator program designed to inspire and support entrepreneurial talent and the development of new businesses in Westchester.…

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Some Unique Places in Westchester to Visit

May 2019

Westchester County is home to many unique attractions—from renowned historic sites to breathtaking nature preserves and parks. New and even long-time residents in the county can find a plethora of places and activities to keep themselves entertained throughout the year. And for those who love animals, there are a few special spots offering visitors the…

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