Found 7 blog entries tagged as New Construction.

White Plains Affordable Housing Lottery Announcement

Downtown White Plains has launched a rare housing lottery offering 108 renovated condos at 6 Cottage Place and 99 Church Street. Priced from the low $200Ks and available to households earning up to 100% of the Area Median Income, these studio to three-bedroom homes include accessibility-adapted units and are located in a walkable, transit-friendly neighborhood. It’s one of Westchester’s most significant affordable homeownership opportunities in years.

  • Starting prices: mid $200Ks (Cottage) / low $300Ks (Church)

  • Open to households at or below 100% Area Median Income

  • Accessible units available for residents with mobility or hearing/vision…

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Major Waterfront Development Approved for New Rochelle

Pratt Landng in New Rochelle

New Rochelle has approved Pratt Landing, a major waterfront redevelopment transforming a former industrial site along the Long Island Sound. This public-private project includes 300+ residential units (99 condos), a 150-room hotel, 40,000+ sq. ft. of commercial space, and a restored "Living Shoreline" with parks, walking paths, and an observation point. Construction starts in 2026, with completion by 2029.

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How Much Does It REALLY Cost to Build a House?

The National Association of Home Builders (NAHB) just released its 2024 Cost of Construction Survey, showing that construction expenses made up 64.4% of the average newly built single-family home's sales price — an increase from 60.8% in 2022. The average construction cost reached $428,215, or $162 per square foot, while builder profit accounted for 11% of the total price. Based on responses from 41 builders, the study details cost allocations across site work, foundations, framing, major systems, interior finishes, and final steps.

  • Average sales price of new construction was $665,298

  • Framing costs (including the roof) accounted for 11.6%

  • Excavation costs…

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Yorktown Approves Rezoning

The Yorktown Town Board recently approved the rezoning of a 50-acre parcel on Catherine Street, clearing the way for the construction of one hundred and eighteen, age-restricted, three-bedroom townhomes in a clustered subdivision near the former Field Home. If the project proceeds, Toll Brothers plans to build 2,400 to 3,000-square-foot townhouses, each expected to sell for over $1 million, generating an estimated $1 million annually in property taxes. Planned amenities include a pool, fitness center, and pickleball courts.

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New Home Construction Sending Mixed Signals

New Home Construction Sending Mixed Signals

October's new home construction data presents a mixed perspective on single-family home building. While home completions rose 16.8% year-over-year, housing starts and permits declined, signaling reduced future inventory. Building permits dropped 0.6% from September and 7.7% from last year, while housing starts fell 3.1% month-over-month and 4.0% annually.

Ralph’s Take

The increase in home completions is a promising sign, offering some relief to current supply pressures. However, the drop in housing starts and permits raise concerns about a slowdown in future inventory, potentially worsening long-term housing shortages if left unaddressed. The National Association of Home…

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Toll Brothers Invests $4.38M in Yonkers

Toll Brothers has purchased a 5.04-acre parcel in Yonkers, New York, for $4.38 million, aiming to develop a 28-unit residential cluster on the site. The Yonkers Planning Board approved the project, which will feature homes ranging from 2,000 to 3,000 square feet, built in pairs. The project will include a 1.07-acre open space with stormwater management, using a Planned Cluster Development (PCD) approach to preserve green space.

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Developers Celebrate 247 North Ave.

Developers Celebrate as 247 North Ave. in New Rochelle reaches its full height. The building will include 307 residential apartments, ground-floor commercial space, and parking facilities through its 28 stories. The project received a $94 million construction loan and includes 31 affordable units for those earning 80% of the area median income. Amenities will include co-working spaces, a fitness center, and a rooftop sky lounge. LRC Construction, an affiliate of the Cappelli Organization is the general contractor for the property.

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