The Westchester County Industrial Development Agency (IDA) approved a resolution that will provide Rye Manor LLC $12 million in tax-exempt bond financing to renovate Rye Manor LLC, County Executive Rob Astorino’s office announced Sept.12. Rye Manor is a 100-unit affordable housing complex for seniors in the City of Rye. The total cost of the renovation is $23 million and the project is expected to create 75 construction jobs.
The news was announced in a press release that highlighted the IDA’s approval of a resolution that will provide Marathon Development Group $12 million in tax-exempt bond financing to renovate the Madison House, a 99-unit affordable housing complex located at 70 Ferris Avenue in White Plains.
Read more on that project here.
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