WHITE PLAINS—The Westchester County Industrial Development Agency approved sales and mortgage tax exemptions for two new development projects on Thursday that will cost almost $52 million to complete.

The IDA approved a sales tax exemption of $380,780 and a mortgage tax exemption of $299,000 for Valhalla, NY-based Ginsburg Development Companies for its $34.9-million Saw Mill Lofts in the Village of Hastings-on-Hudson. The development, to be built on a 7.45-acre parcel, will involve the construction of three rental apartment buildings. A total of 54 market rate apartment units will be featured in two of the buildings, with the center building containing 12 affordable units. GDC will donate a two-acre park to the village and will also build a 100-foot ramped bridge connecting the waterfront property to the South County Trailway.

Bruce Lozito, community planner for GDC, said that the company expects to break ground on the project in the spring of 2015. The firm has secured final site plan approval for the venture from Hastings-on-Hudson. The project is expected to create 100 construction jobs during its 18 months of construction. County officials note that the project was previously approved to receive approximately $1,17 million from the County of Westchester for land acquisition and infrastructure work, which will count toward the 750 affordable units required under the county's 2009 housing settlement with the federal government.

GDC Principal Martin Ginsburg, in a prepared statement, said of the county's assistance, “The Lofts at Saw Mill River will bring unique contemporary loft-like rental apartments to Westchester County as well as affordable workforce housing. The public/private partnership between the Westchester IDA and GDC is key to making those affordable units possible.”

At its Thursday morning session, the IDA also approved a sales tax exemption of $1.2 million and a mortgage tax exemption of $200,000 for XSS LLC, an affiliate of Hooksett, NH-based XSS Hotels for the development of a 138-room Hilton Garden Inn to be built as part of the Rivertowns Square mixed-use retail project in Dobbs Ferry being developed by Saber Dobbs Ferry, LLC. The hotel at 35 Livingston St. will create 165 construction jobs over the next 12 months and 50 full-time permanent jobs upon completion. The 83,000-square-foot hotel will be built above a 127,000-square-foot retail space. XSS will also build an adjoining parking garage that will contain approximately 550 parking spaces.

Mark Stebbins, managing partner of XSS Hotels, said the construction cost for the hotel is $17 million. He pegged the overall development cost for the venture, including land acquisition, at $30 million. Stebbins said that he hopes to begin construction on the hotel in June 2015 with an opening of the facility set for the summer of 2016. XSS owns a Hampton Inn in Yonkers in Westchester County and a Residence Inn in Orangetown in Rockland County. He said the company is looking to expand its footprint in the New York metro region and is in discussions with Saber on other possible sites as well as other property owners.

Martin Berger, principal of Saber Dobbs Ferry, said that site work on the retail component of Rivertowns Square would likely commence in February 2015. The project will feature 116,000 square feet of retail shops and restaurants, including Mrs. Greens Natural Market as well as an iPic Theater that will feature eight screens, approximately 650 seats and a high-end restaurant. The cost of the retail component of the project, which includes build-out of existing space, is estimated at approximately $75 million. Lincoln Properties Group is also developing approximately 200 residential units at the more than 17-acre site. Berger said he understands construction of the rental housing will likely coincide with the start of the retail component of the Rivertowns Square development.

Earlier this year, the IDA approved $1,609,402 million in tax incentives for the Rivertowns Square project, which will create a total of 660 full and part-time jobs and 475 construction jobs.

Westchester County Executive Robert Astorino stated in an announcement of the IDA inducements, “Today's job-creating projects were made possible by the support of Westchester County's IDA and the commitment of business leaders who realize the value of Westchester. These projects invest in the future of our Rivertowns, providing affordable rental housing for professionals and accommodations for family members of area college students and hospital patients, as well as business travelers.”