Westchester Approves IDA Incentives for Mamaroneck Self-Storage and Three Other Major County Project
Westchester's Industrial Development Agency (IDA) has approved financing and incentives for Mamaroneck Self-Storage and three other major county development projects. With a total of $71.5 million in private investment, the four projects will create more than 750 full time jobs. The transaction fees paid to the IDA on the projects will generate more than $122,000, which will be used to support small businesses and stimulate job creation.
Besides Mamaroneck Self-Storage, the IDA approved projects include an environmental brown site transformed into new housing and resident parking, prime office space upgraded for high-paying professional jobs and the renovation of one of the county's most iconic tourism destinations. "The projects supported by the IDA today demonstrate the vitality of our local economy and the strength of our job market," said County Executive Rob Astorino. "We are proud that these diverse, job-creating projects all have one thing in common: successful partnership with Westchester County."
Murphy Brothers Contracting, a family owned and operated general contracting firm in Mamaroneck, received IDA approval for a sales tax exemption on materials for the construction of a 40,000 square-foot self-storage facility at 426 Waverly Avenue in Mamaroneck. Designed by local architect Kim Martelli, the new building will incorporate green building technologies including solar shingles, heat recovery ventilators, high efficiency VRF cooling and heating system and high performance windows. The $3.5 million project, involving approximately 200 construction jobs, is scheduled to be completed by Labor Day weekend 2015.