Real Estate Weekly
Image default

MatriArch gets go-ahead to build new mixed-used Pelham property

The Village of Pelham has given the go ahead for a mixed-use development near the Pelham Metro-North Station.

The project, at 101 Wolfs Lane, is an over-$20 million mixed-use, transit-oriented development by MatriArch Development. It will feature 63 rental units and more than 4,000 s/f of ground-floor commercial/retail space.

Seth Mandelbaum, managing partner at McCullough, Goldberger & Staudt, LLP, secured land use approvals for the project.

MartriArch Development executive commented, “It’s essential that MatriArch creates a building that responds to local needs and has minimal, if not positive, environmental impacts. We can’t wait to bring our vision to fruition.

“Seth impressed us with his clear and precise understanding of our project’s key goals. He worked diligently with us to see the project through to approval.”

The Westchester County IDA also gave its approval for a total of approximately $1.47 million in sales tax and mortgage recording tax exemptions.

In addition, the project will receive a $1.09 million state grant from the Mid-Hudson Regional Economic Council which was announced on December 18.

The project is anticipated to create 144 construction jobs as well as 26 permanent jobs.
“This is a project that has been many years in the making and we are pleased that we were able to help bring it to fruition,” said Mandelbaum.

“This key property that has been vacant for more than a decade will now significantly contribute to revitalizing downtown Pelham as well as providing a crucial pedestrian link from the Village parking lot to the adjacent Metro North train station.”

The 63 rental units will include five studios, 36 one bedrooms, 18 two bedrooms and four three bedroom terraces and amenities will include a fitness center, outdoor bike racks, indoor bike storage, community room and green roof. The development will be connected to a pedestrian arcade leading to parking.

(Visited 1 times, 1 visits today)

Related posts

Standard Communities leads public-private partnership to convert 176-unit providence community to affordable from market rate


Miami-Based 13th Floor Investments Sells The Reserve at Coconut Point Luxury Residential Community in the Village of Estero, Florida


$25.5M financing arranged for New Jersey multi-housing community