Reader’s Digest Building Finds New Life as Affordable Housing
After nearly two years of development, Chappaqua Crossing Apartments opens as a blend of affordable, workforce, and market rate units.
Photo provided by Thompson & Bender
County Executive George Latimer and Town of New Castle Supervisor Robert Greenstein joined in the ribbon cutting ceremony to officially open Chappaqua Crossing Apartments last Thursday.
Housed in the Cupola Building on North Bedford Road, the four-story edifice built in 1939 was the home of Reader’s Digest all the way up until 2004. Now, after 20 months of renovation and development by Wilder Balter Partners, it has been transformed into a 64-unit residential space loaded with plenty of modern amenities such as a walking trail and outdoor play area for kids, on-site super and management, gym and exercise rooms, a club room with kitchenette, reading library, and laundry rooms. (And it’s pet-friendly!)
In-unit amenities include large walk-in closets in many units, stainless steel appliances, dishwashers, washer/dryer hookups, and central air. But the best part? More than half the apartments are designated as either affordable or workforce housing.
Yes, of the 64 one-, two-, and three-bedroom units, twenty-eight will be priced as affordable housing — meaning the maximum household income totals no more than 40 or 60 percent of the area median — starting as low as just $765 per month! Another ten units will be available as workforce housing — for households earning up to 90 percent the area median — starting at $1,810 per month.
Senator Terrance Murphy says, "Affordable housing is a highly valued and critically needed commodity in Westchester County. With its modern amenities, and features such as nearby restaurants, a theater, walking trails and convenient transportation, Chappaqua Crossing will provide hard-working families and seniors with a sense of community."
County Executive George Latimer, who was present for the ribbon cutting, adds, "This development is a perfect example of a community finding a creative way to breathe new life into an old corporate property. By incorporating a unique mix of affordable, workforce and market-rate housing, this complex becomes desirable to all different kinds of families."
Interested residents can snag both affordable and workforce applications online, or email email@example.com for more information.
Pictured Above: Left to right: Tricia Yarger, Director, Municipal Securities Division, Citi Community Capital; Robert H. Wilder, Jr., Principal, Wilder Balter Partners, Inc.; RuthAnne Visnauskas, Commissioner/CEO, NYS Homes & Community Renewal; William Balter, President, Wilder Balter Partners, Inc.; Victor J. Sostar, Executive Vice President, Regions Affordable Housing; Norma Drummond, Acting Commissioner, Westchester County Department of Planning; George Latimer, Westchester County Executive; Robert Greenstein, Supervisor, Town of New Castle.