BRP Companies Breaks Ground on $178 Million, 296-Unit North White Plains Development

WHITE PLAINS, N.Y. — Construction is underway on North White Plains, a $178 million mixed-income, transit-oriented housing development that will bring 296 apartments to White Plains, New York. Developed by BRP Companies, the project received financing from Merchants Capital, New York State Homes and Community Renewal (HCR), The Community Preservation Corporation (CPC), and equity from Basis Investment Group and BRP Companies. The groundbreaking was announced Nov. 10, 2026.

The development will include two six-story buildings, ground-floor retail and a publicly accessible park directly across from the North White Plains Metro-North station. It is the first project to use Gov. Kathy Hochul's Housing Acceleration Fund, an HCR-administered program intended to advance shovel-ready mixed-income housing developments facing financing gaps.

Capital Stack: Merchants Capital, HCR, CPC and Basis Investment Group

The $178 million financing package combines institutional debt, state gap funding, mission-driven investment and private equity:

• Merchants Capital: $120 million in construction financing
• New York State Homes and Community Renewal: $18 million from the Housing Acceleration Fund
• The Community Preservation Corporation: $10 million investment
• Equity: $30 million from Basis Investment Group and BRP Companies

HCR describes the Housing Acceleration Fund as providing low-interest, revolving loans to shovel-ready mixed-income developments with financing gaps, using public capital to leverage private investment. North White Plains is the first project to begin construction under the program.

"North White Plains is a great example of how thoughtful investment can help create housing that connects residents to transit and opportunity," said Sadie McKeown, Head of CPC Building Innovation at The Community Preservation Corporation. "CPC is proud to invest $10 million in this development and to work alongside BRP Companies and our partners to bring nearly 300 new high-performance homes to a growing region."

Property Details: Unit Mix, Affordability and Amenities

The development is located at 20 Haarlem Avenue, 27 Holland Avenue and 7–11 Holland Avenue in White Plains. It will include studio, one-bedroom and two-bedroom apartments in two six-story buildings.

Thirty apartments will be designated as affordable housing. Five will be reserved for households earning up to 60 percent of Area Median Income (AMI), and 25 will be reserved for households earning up to 110 percent of AMI. The remaining apartments will be market-rate.

Amenities will include a fitness center, resident lounge, co-working lounge, event space and patio. Plans call for approximately 1,000 square feet of ground-floor retail envisioned as a coffee shop, a publicly accessible park with a dog run, and a 383-space parking garage.

The all-electric project will use high-efficiency electric heat pumps for heating and cooling, include electric vehicle charging infrastructure, and incorporate building systems designed to meet or exceed ENERGY STAR Multifamily New Construction standards.

"Today marks an exciting milestone for North White Plains and for the future of housing in Westchester County," said Steven Smith, Partner of BRP Companies. "This development will bring nearly 300 new homes, including affordable residences, right across from the Metro-North station, giving residents easy access to jobs, transit and everything the region has to offer."

Housing Acceleration Fund and Public Officials

Hochul said the state needs to use every resource available to accelerate development. "With smart, innovative programs like the Housing Acceleration Fund, we're delivering projects like this to New Yorkers even faster," she said.

HCR Commissioner RuthAnne Visnauskas said the project illustrates how the fund can work. "North White Plains is a perfect example of how this innovative approach can work, bringing nearly 300 new homes to a transit-rich location where housing demand continues to grow," Visnauskas said.

State Sen. Shelley Mayer called the project "exactly the type of construction we need in our communities." Assemblymember Chris Burdick described it as "the product of public-private collaboration meeting a need." Westchester County Executive Ken Jenkins said the groundbreaking "marks an exciting step forward in expanding affordable housing opportunities in Westchester County."

Market Context: Transit-Oriented Housing in Westchester

The project's location adjacent to Metro-North is intended to connect residents with employment throughout Westchester County and New York City, and to place new housing near existing dining and retail. Development sites in Westchester are constrained, and proximity to rail can support higher-density residential construction.

The state fund is designed to bridge capital shortfalls that can keep shovel-ready projects from starting construction; its $18 million contribution helped complete a capital stack combining institutional debt, mission-driven financing and private equity. North White Plains therefore serves as an early test of whether the Housing Acceleration Fund can convert public gap financing into construction starts for mixed-income housing in high-cost suburban markets.

The project also arrives amid uneven conditions in Westchester's commercial real estate market. Westchester County office vacancy was 23.0 percent in the second quarter of 2026, compressing 245 basis points year over year, with average office asking rents of $30.54 per square foot. In White Plains' central business district, average office asking rent was $34.54 per square foot, down 4.6 percent year over year.

The 296-unit scale and mixed-income structure give the development a broader target renter base: most units will compete in the market-rate segment, while 30 apartments will serve households at income-restricted levels.

Sources

• The Community Preservation Corporation: https://communityp.com/news-cpc/north-white-plains-groundbreaking/