WPCNR THE HOUSING NEWS. By John F. Bailey. May 8, 2008: The Horton’s Mill Town Homes, built as “work force housing units” available only to families earning 80% of median income, opened officially Wednesday morning with Deputy County Executive Larry Schwartz and Mayor Joseph Delfino of White Plains anchoring the ceremonies.
A total of 14 families have already gone to contract on 14 of the 17 Horton's Mill Village homes available on the market for about $200,000 to $225,000. A number of the families, it was announced, had loaned money for their downpayments to be able to go to contract, arranged through Westchester Residential Opportunities and the Housing Action Council.
The homes, originally approved in spring 2003 opened to much praise, with the Deputy County Executive promising Westchester County would be building more. The developer, John Saraceno said he is anticipating building a similar project for the county in Ossining.
Larry Schwartz. Deputy County Executive and Mayor Joseph Delfino Cut the Ribbon while Councilpersons Rita Malmud and Tom Roach right observe. In background is the architect, White Plains' Bice Wilson.
Larry Schwartz, pinch-hitting for Andrew Spano, the County Executive, whom Mr. Schwartz described as not feeling well, said the County would continue to seek such projects to improve the quality of life of all Westchester residents. Schwartz thanked Mayor Joseph Delfino, who said without the Mayor’s help the project would not have happened, and also thanked Councilman Thomas Roach for being instrumental in supporting the project. Schwartz said the project “was an example of how two governments can work together to improve quality of life."
Typical Residence: A duplex.
The Mayor originally had suggested swapping the land the town homes now stand on to the county in exchange for leasing 30 acres owned by the county adjacent to Silver Lake, which the city turned into a now passive Liberty Park at a cost of $600,000 (approximate).
Mayor Joseph Delfino made note that the Horton’s Mill, the Pettinichi property, just to the west of the new Town Homes played a part in the American Revolution Battle of White Plains. He likened the affordable housing project as being another “battle,” that had been achieved because everyone “worked together.”
The Mayor also announced that he was pleased four White Plains city personnel had purchased or are in the process of purchasing four of the 17 homes, a policeman, an employee of the Parking Department, a member of the Department of Public Works, and a fireman. According to Executive Officer Paul Wood, Westchester Residential Opportunities reviews the applications according to city and county criteria and selects the persons they think best fitst
The Mayor said the city was the only city on the east coast to be given an award by Housing and Urban Development for its efforts in `establishing "affordable" workforce housing. He said the city was looking to open 14 more at Minerva Place next week, and noted the 42 units at Kensico Place, the 49 affordable apartments at Avalon Bay under construction; the 80-20 project at Bank Street yet to start.
Susan Kirkpatrick, speaking Legislator William Ryan, who also scheduled to attend, could not, and had Mrs. Kilpatrick read his statement, which promised the county would continue to seek and provide land for such workforce housing projects.
A representative from the New York State Affordable Housing Corporation praised the project and said that part of the reason for the project taking five years was that an artifact had been discovered on the property, and the site had to be evaluated before construction could continue.
The county news release on the opening reported that Westchester County provided $1,062,000 for land acquisition paid to the owners of the property, the Petinicchi family; $800,000 for infrastructure improvements through the Housing Implementation Fund and $259,000 from the county share of federal HOME funds.
The Math
The City of White Plains gave a grant of $327,474 from the City Affordable Housing Fund to defray increase in costs in the project due to the delay; the New York State Affordable Housing Corporation and the state Division of Housing and Community Renewal also contributed to the $5.7 Million cost.
Families eligible for the home can earn no more than 80% of the Westchester County Median Income, computed by the county as $81,300.
The 17 homes would if all sold for the prices quoted in the news release as $212,000 for a two-bedroom, and $222,000 for a three-bedroom would realize a gross of $3,700,000 for the developer.
The project according to official documents in the city legislation authorizing the Common Council grant, was to cost $1,579,015 to construct, including $501,003 Developer’s Overhead and fees. Add to this the $1,062,000 the county paid for the land, and $800,000 the county paid in infrastructure, the profit to the developer should be more than half the cost of the project.
The Ribbon-Cutters.
