Fourteen Units of Affordable Housing Added in Westchester County

HASTINGS-ON-HUDSON, NY (10/31/2008)(readMedia)-- The completion of 422 Warburton Avenue in Hastings-On-Hudson, New York, a newly constructed 14-unit affordable apartment complex, was celebrated with a ribbon cutting on Friday, October 31st. The complex features 3 separate buildings, private parking and a 1,000 square foot public plaza along Warburton Avenue.

Eric Anderson, managing partner of Urban Green Builders (the general contractor) and 422 Warburton LLC (the owner) "couldn't be more proud of the completion of this project. Westchester County and the river towns, in particular, need quality affordable and environmentally responsible housing and we are very pleased to be a part of the team that could provide it."

In a press release issued by the Hastings-on-Hudson Affordable Housing Development Fund, its president, Sue Smith, said:

"The Hastings-on-Hudson Affordable Housing Development Fund is pleased to be able to celebrate the opening of the 422 Warburton Avenue apartment building. This achievement is thanks to the successful collaboration of many parties, the municipal entities of the Village of Hastings-on-Hudson, the Town of Greenburgh and Westchester County, both State and private funders, the Warburton Avenue neighborhood and the partnership of the developer UrbanGreen with the local non-profit Affordable Housing Development Fund. This project has taken many years and seen many challenges in order to come to fruition. The Development Fund celebrates that we have been able to meet our goal of high quality, attractive buildings that fit into their neighborhood and make an improvement with the positive use of land that once held a deteriorated and nuisance structure. The fortunate tenants confirm the project's public benefit by including Hastings firefighters, Village, School District and Town employees as well as others. And Hastings is now home to 14 more affordable units that will remain affordable for 99 years. The job has been well done by all participants and we appreciate all of them who have worked together to make 422 Warburton happen. "

The New York State Housing Finance Agency financed much of the $6 million project. The Community Preservation Corporation, Westchester County, the Westchester County Industrial Development Agency and the Richman Group also provided financial assistance for the project.

In addition to being 100 percent affordable, the project was built with attention to high environmental standards. The system used to heat and cool each unit is based on geothermal energy and bamboo, a rapidly renewable resource, was used for each unit's floors. The project was also constructed with walkability and sustainability in mind as it is within a short distance of the Village's shops, restaurants and Metro North rail station.

The Mayor of Hasting-On-Hudson, Lee Kinnally, noted: "The opening of 422 Warburton Avenue is an exciting event for our Village. It represents the development and improvement of what had been an eyesore and an under-utilized parcel of land in our downtown and reaffirms the Village's commitment to affordable housing. I salute all those who were a part of this."

Priscilla Almodovar, President and Chief Executive Officer of the NYS Housing Finance Agency, said, "We are very proud to join with Urban Green to finance 422 Warburton Avenue in Hastings-on-Hudson. The Paterson administration is dedicated to providing safe and affordable housing that also reduces our carbon footprint. This project is a wonderful example of how we can take advantage of ‘green' building components to build better affordable apartments. By using a geothermal process that accesses ground water, the Warburton Avenue apartments will use no fossil fuels for heat and will consume 50% less electricity than normal. The result is new housing that is both clean and affordable."

For more information please contact:

1. Kirsty Greer
   Project Manager
   Urban Green Builders
   (212) 410-6336 x107
   kgreer@urbangreenbuilders.com