NW Plains Venture Plans $178M White Plains Development

• 20 Haarlem Avenue and 27 Holland Avenue, White Plains, NY, are slated for a $178 million residential development by NW Plains Venture LLC, directly beside the North White Plains Metro-North station.
• The two six-story buildings will deliver 296 apartments, ground-floor retail, a 393-space parking garage and approximately 15,000 square feet of public park space.
• The financing package includes $120.6 million from Merchants Capital, $18 million from New York State Homes and Community Renewal's Housing Acceleration Fund, $10 million from The Community Preservation Corporation and $29.7 million in equity from Basis Investment Group and BRP Companies.

What NW Plains Venture Is Building

NW Plains Venture LLC is preparing to break ground on a two-building residential complex at 20 Haarlem Avenue and 27 Holland Avenue in White Plains, Westchester County. Designed by Perkins Eastman, the project will occupy a 2.44-acre site directly beside North White Plains Metro-North station. The property is currently vacant, and the development will combine residential housing with retail, parking and public open space. The project is the first to receive funding from New York State's Housing Acceleration Fund, which supports housing development and aims to generate additional investment in communities across the state.

What The 296 Apartments Will Include

The development will offer 59 studios, 148 one-bedroom apartments and 89 two-bedroom apartments. Thirty percent of the overall inventory is designated as affordable housing. The affordability plan includes five apartments for households earning between 50% and 60% of area median income, plus 25 units reserved for households earning up to 110% of AMI. Building A at 20 Haarlem Avenue will contain 163 apartments, ground-floor retail and 216 parking spaces. The building at 27 Holland Avenue will provide the remaining 133 apartments and 164 parking spaces.

What The $178M Financing Package Covers

The project combines private financing and public investment to support construction.

The financing package includes $120.6 million from Merchants Capital, an $18 million investment from the Housing Acceleration Fund and $10 million from The Community Preservation Corporation. Basis Investment Group and BRP Companies are contributing another $29.7 million in equity.

New York State Homes and Community Renewal will receive its $18 million investment back with 3% interest after project completion, allowing the funds to be reinvested in other housing developments.

What Perkins Eastman Designed

Perkins Eastman designed two six-story buildings with red and earth-toned brick façades, black metal window frames and double-height glass entrances beneath metal canopies.

Planned resident amenities include a fitness room, bicycle storage, landscaped outdoor courtyards and a lounge. The development will also create approximately 15,000 square feet of public park space, adding a new outdoor amenity to the station area.

What The Transit Location Means

The development's location immediately beside North White Plains Metro-North station offers residents regional rail access for commuting and other trips. The combination of housing, retail, parking and public space is intended to create a more active station-area environment. For investors, the project also demonstrates how public-private financing can support sizable residential developments while incorporating affordable homes and neighborhood amenities.

What Comes Next

The City of White Plains approved the plans in August 2021, and construction is expected to begin imminently. The $178 million project will add nearly 300 apartments to the area, with ground-floor retail and public open space complementing the residential program. The development's mix of private capital, public financing and commuter rail access makes it a significant housing project for White Plains and Westchester County.