Ossining Experiences Real Estate Boom
Four new mixed-use developments are in the works in the village, with three under construction and a fourth having final approvals.
The Avalon Ossining at 217 N. Highland Ave., We Can Do It at 147-155 Main St. and a third project at 105-107 Croton Ave. are currently construction, while Harbor Square at the waterfront is expected to begin construction soon. Avalon and We Can Do It are expected to be completed in the first half of 2014.
Once all four projects are completed, more than 400 new rental units will be in the village, from affordable housing to luxury apartments.
The village's goal is to attract more young professionals and empty nesters to the village.
“These brand new apartments are perfect for anyone interested in living in an urban, yet historic community,” said Ingrid Richards, the Village’s Manager of Downtown and Economic Development. “We are very excited to see these developments progress. Our growing retail and restaurant businesses will also benefit greatly from the new additions.”
The We Can Do It lot had been vacant for 15 years following a fire before the Stagg Group, a Purchase-based developer purchased the property.
The five-story property will have 31 apartments, 1,202 square feet of retail space and 3,185 of restaurant space.
“The redevelopment of this parcel represents another milestone of success for the Village of Ossining,” said Mayor William R. Hanauer. “It will complete the historic Main Street shopping crescent and represents yet another forward step in the renaissance of the Village and the rejuvenation of its downtown.”
The property at 105-107 Croton Ave. will feature 14 rental units with 2,700 square feet of retail space. Avalon Ossining will offer 168 luxury apartments, with one, two and three bedroom apartment homes.
"The village has always lacked luxury rental apartments," Hanauer said. "With the construction of Avalon and Harbor Square, people with significant disposable income will have luxury apartments with spectacular river views."
To ensure affordable housing, the village passed a resolution in 2006 mandating all developments of six units make 10 percent of the units affordable.
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