The development of 120 North Pearl Street effectuates continued progress towards transit-oriented-development. Specifically, this development included 50 luxury residential units – mainly studies and one-bedrooms to reduce environmental impacts – and used the Village’s density bonus program in exchange of public benefits. This development provided a reduced parking scheme due to its proximity to the Port Chester Metro North train station. The project is currently under construction and anticipates completion by Summer 2016.
Because it was in concert with the Village’s Master Plan, aligned with strategic initiatives favored by the Board of Trustees, and met IDA requirements for economic benefit, this $14 million dollar project qualified for financial assistance that could exceed $500,000 under multiple IDA programs.