Simone Granted Incentives for Montefiore Medical Project
Real Estate In-Depth | February 2019
WHITE PLAINS—Simone Healthcare Development recently secured a resolution of intent from the Westchester County Industrial Development Agency to provide nearly $1.75 million in incentives for its $61-million plan to redevelop a vacant office building in Harrison into a pediatric care ambulatory facility for Montefiore Medical Center.
Simone Healthcare, an affiliate of Simone Development Companies, plans to renovate the four-story 104 Corporate Park Drive office building in Harrison that will be fully leased to Montefiore Medical Center. The building will also house a cancer center, which will be operated with White Plains Hospital, a member of the Montefiore Health System and Westmed Medical Group.
A 5,000 square-foot addition will be constructed to house a linear accelerator for the cancer center. A new 200 space garage connected to the building is also a component of the redevelopment project.
The Westchester County IDA Board at its meeting earlier this month approved $1,328,021 in sales tax exemptions and $419,755 in mortgage tax exemptions for the project. Simone states that the redevelopment project will create approximately 100 construction jobs and 250 permanent healthcare-related jobs upon completion.
The renovated building at 104 Corporate Park Drive will feature urgent care, behavioral health, maternal fetal medicine, sports medicine, infusions, children’s evaluation and rehabilitation, an imaging suite and lab facilities. The renovated building will incorporate various green building technologies such as LED lighting, high efficiency HVAC, and high solar reflective index roofing material.
The Westchester IDA Board of Directors on Feb. 14 also approved an extension of sales tax benefits for the second phase of LCOR’s Continuum rental development in Downtown White Plains. The second phase of the project increases the building’s height from 16 stories to 17 stories and the total rental units from 273 to 309. Total affordable units will increase from 55 to 62. The sales tax exemption was increased from $4.15 million to more than $6.4 million, the IDA reported.