{"id":375,"date":"2025-01-06T12:16:42","date_gmt":"2025-01-06T13:16:42","guid":{"rendered":"https:\/\/durkins.net\/?p=375"},"modified":"2025-01-08T17:41:45","modified_gmt":"2025-01-08T17:41:45","slug":"the-hudson-companies-close-on-financing-for-pelham-house-a-mixed-income-transit-oriented-development-in-the-village-of-pelham","status":"publish","type":"post","link":"https:\/\/durkins.net\/index.php\/2025\/01\/06\/the-hudson-companies-close-on-financing-for-pelham-house-a-mixed-income-transit-oriented-development-in-the-village-of-pelham\/","title":{"rendered":"The Hudson Companies Close on Financing for Pelham House, a Mixed-Income Transit-Oriented Development in the Village of Pelham"},"content":{"rendered":"
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The financial closing of the residential development follows the construction of the new Municipal Center that will house the Village\u2019s Fire Department, Police Department, and Administrative Offices<\/em><\/p>\n

PELHAM, NY:<\/strong> The Hudson Companies today announced the closing of $73 million<\/strong> in financing for the construction of Pelham House, a five-story residential development that will transform a former parking lot and Fire House into a transit-oriented development with 127 high-quality, mixed-income homes and 5,300 square feet of ground floor retail space in the heart of Pelham, New York. As part of the project, the development team is building a 27,000-square-foot Municipal Center across the street to house a fire station, police department, and administrative offices. Financing was provided by Santander, Related Debt Fund and equity through Hudson\u2019s joint venture Green Fund with the New York City Employees’ Retirement System and the Teachers’ Retirement System of the City of New York. Sisca Northeast Associates, LLC was selected as the project’s general contractor. The Municipal Center is expected to be completed by January 2025, and construction for the residential project will be completed in the summer of 2027.<\/p>\n

In 2019, a team led by a local developer (Pelham House LLC) was awarded the opportunity to develop the site through a competitive RFP process. In 2020, Pelham House LLC formed a strategic partnership with Hudson Companies to develop the properties.<\/p>\n

\u201cHudson could not be prouder to deliver a transformational project that addresses a wide range of needs for the community with its much-needed housing and state-of-the-art Municipal Center. We are inspired by the Village\u2019s initiative to revitalize this downtown corridor, Mayor Mullen & the entire Village Board of Trustees\u2019 for their initiative to think creatively about solving New York State\u2019s housing crisis. We are grateful for the opportunity to partner with and invest in the future of Pelham,\u201d said Joe Kohl Riggs, Hudson Companies<\/strong>. \u201cWith today\u2019s milestone, we thank the Village of Pelham, our development partner Excelsior Development, our contractor Sisca Northeast, our architect United Design Works, and our financial and construction partners for all their tireless efforts to make this vision a reality.\u201d<\/p>\n

\u201cPelham House LLC is thrilled to partner with Hudson on this impactful and innovative project.  From the beginning, one of our goals was to create a stunning new landmark for the Village and to help revitalize this part of the downtown.  With the imminent completion of the new Municipal Center, we think we have done just that and look forward to continuing work on the mixed-use part of the project,\u201d added Patrick Normoyle, one of the principals of Pelham House, LLC and also a proud resident of the Village of Pelham<\/strong>.<\/p>\n

Located at 217 Fifth Avenue in Southern Westchester, Pelham Green will provide 127 homes, with six affordable homes set aside for households earning 80 percent of area median income. Residents will have access to various amenities including a gym, roof terrace, courtyard, business center, bike room, storage room, and 219 parking spaces with 60 reserved public municipal spaces.<\/p>\n

Pelham Green is conveniently located steps away from the Metro North Pelham station, which is only a 30-minute commute to the Grand Central Terminal in Manhattan. Future residents will also be close to local businesses, including various restaurants, grocers, and shops.<\/p>\n

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About Hudson Companies <\/strong><\/p>\n

At Hudson, we develop housing for everyone. From townhouses to high rises, and gut rehabilitation of warehouses to modest renovations of 100-year-old walk-ups, we have touched all housing typologies. Our collaborative team is guided by entrepreneurial vigor, civic spirit, and deep expertise. We are fully integrated, having close affiliates that handle property management and leasing, Lisa Management, general contracting construction services, and Broadway Builders, a WBE firm. Our team is diverse, and our motivations arise from varied personal and professional experiences, but our crucial commonality is a desire to thoughtfully add to New York\u2019s great blocks and boroughs. Hudson has completed over 8,000 residential units, with almost 7,000 more in the pipeline. https:\/\/www.hudsoninc.com\/<\/a><\/p>\n

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About the Village of Pelham<\/strong><\/p>\n

The Village of Pelham is a vibrant, historic community in southern Westchester whose residents participate enthusiastically in civic life. The commercial corridor is home to great restaurants, public art, summer concerts, a Sunday Farmer’s Market, and annual celebrations and parades. All are welcome and invited to experience all that Pelham has to offer. For more information on upcoming events, visit www.PelhamGov.com<\/a>.<\/p>\n

The post The Hudson Companies Close on Financing for Pelham House, a Mixed-Income Transit-Oriented Development in the Village of Pelham<\/a> first appeared on Informed Infrastructure<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Credit: Marvel   The financial closing of the residential development follows the construction of the new Municipal Center that will house the Village\u2019s Fire Department, Police Department, and Administrative Offices PELHAM, NY: The Hudson Companies today announced the closing of $73… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/posts\/375"}],"collection":[{"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/comments?post=375"}],"version-history":[{"count":1,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/posts\/375\/revisions"}],"predecessor-version":[{"id":376,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/posts\/375\/revisions\/376"}],"wp:attachment":[{"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/media?parent=375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/categories?post=375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/durkins.net\/index.php\/wp-json\/wp\/v2\/tags?post=375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}