The Northern Westchester Examiner

$20M Mixed Use Project Moving Forward in Downtown Peekskill

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A zoning amendment approved by the Peekskill Common Council last summer that allowed the expansion of residential development in the downtown and artist lofts in the C-3 zone helped spearhead a $20 million mixed use project planned on Main and Diven streets.

Ken Kearney, president of Kearney Realty and Development Corporation, told council members last week the 74-unit The Lofts at Peekskill would not be moving forward if the change to the Zoning Code wasn’t made.

“That law that was passed helped to market this development,” Kearney said. “We are committed to this project. This is just a matter of when. It’s not a matter of if.”

The two building development calls for 50 artist loft units and 24 market rate apartments, along with four retail spaces at 922 Main Street and 921 Diven Street. According to Kearney, the one-bedroom artist lofts would cost $1,050 per month and two-bedrooms $1,275. The market rate apartments would be $1,350 for one-bedroom and $1,600 for two bedrooms.

Peekskill currently has approximately 90 artist lofts. “I think this is going to help the artist community stay here,” Kearney said. “I think it will help the artist community grow.”

In the commercial spaces, Kearney, who built the 72-unit Mews II affordable housing project in the Town of Somers, said he would like to attract at least two “exciting” eateries to Peekskill.

“We’re pro-active and problem solvers,” Kearney said. “We will bend over backwards to get somebody in there.”

The Lofts at Peekskill is scheduled for its first formal review by the city’s Planning Commission on March 10. Kearney is hoping to be shovel-ready by September.

“It’s a very exciting project,” said Peekskill Mayor Frank Catalina. “I’m very excited about it.”

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