The Mount Pleasant Industrial Development Agency (IDA) voted at its July 29 meeting to approve financial incentives for the construction of a three-story building with 16 apartments and underground parking located at 500 Commerce St. in Hawthorne.
The residential project, which received preliminary approval at the IDA’s June 2 meeting, represents total private investment of $7.3 million. The project, which is considered an important step toward the revitalization of Commerce Street between Hawthorne and Thornwood, is expected to create 40 construction jobs.
In addition, it will generate significant tax revenue for the Mount Pleasant School District and town.
The IDA approved a sales tax exemption estimated at $290,000.
The project, which is located near the Hawthorne Metro-North train station, is being built on the site of the former Victor’s Bar & Grill. The building will enhance the streetscape along Commerce Street with the addition of new sidewalks.
The three-story, 36,275-square-foot multifamily building is being built by local developer John Piazza. It will contain four one-bedroom units and 12 two-bedroom units.
“This development perfectly aligns with our Master Plan for revitalizing the Commerce Street corridor,” said Mount Pleasant Supervisor Carl Fulgenzi, who also serves as IDA chairman. “People have been talking about creating a revitalized and walkable corridor along Commerce Street. Now with this exciting new project we are taking significant and meaningful steps toward making that a reality.”
The Town Board will reconvene the public hearing to hear comments on the Draft Generic Environmental Impact Statement (DGEIS) for the Form-Based Zoning Code and Comprehensive Plan at its meeting on Tuesday, Aug. 10. The meeting is scheduled to begin at 7 p.m. at Town Hall located at 1 Town Hall Plaza in Valhalla.