‘62 Main’ in Village of Tarrytown Transforms Former YMCA Into Affordable, Fully-Electric, Transit-Oriented Development Geared Toward Seniors

Governor Kathy Hochul on Mar 6th, announced the completion of “62 Main” in the village of Tarrytown, Westchester County — a $54 million development that transformed the former YMCA of Tarrytown into 108 affordable and energy-efficient apartments. In the past five years, New York State Homes and Community Renewal has financed more than 5,000 affordable homes in Westchester. 62 Main continues this effort and complements Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.

“My approach to tackling the housing crisis is simple: we need all types of housing options, especially in places like Westchester County,” Governor Hochul said. “Transforming this former YMCA into affordable housing will not only revitalize the building but also provide more than 100 much-needed homes. This project ensures that seniors can remain in the community they cherish, or move to this vibrant village with an essential public transit hub.”

The development is available to households earning up to 70 percent of the Area Median Income. Eighty-eight of the apartments are reserved for seniors aged 55 and older.

The project included a rehabilitation of the interior of the original YMCA facility, transforming it into modern apartments. Extensions to the facility in the rear of the property were demolished and replaced. The historic Main Street façade of the YMCA is intact, in accordance with a Memorandum of Agreement between the developer and the New York State Historic Preservation Office. The façade of the newly constructed portion of the building utilizes classic architectural themes prevalent throughout Tarrytown.

62 Main is fully-electric with energy-efficient features including geothermal heat and air conditioning, ENERGY STAR® appliances, a rooftop solar array, a green roof courtyard and electric car charging stations. The transit-oriented development is three blocks from the Metro North train station and is within walking distance to retail stores, schools, green spaces and medical facilities.

The project is supported by HCR’s Federal Low Income Housing Tax Credit Program that generated $19 million in equity, as well as its Housing Finance Agency, which provided $10.4 million in subsidy from its Senior Housing Program and $8.4 million in tax exempt bonds. Eight of the units will receive rental assistance through Section 8 Project-Based Vouchers issued by HCR. The New York State Energy Research and Development Authority’s New Construction – Housing Program provided $218,000.

The project is also supported by $10.1 million in loans from the Tarrytown Housing Fund – a fund of the Housing Action Council, $5 million from Westchester County’s New Homes Land Acquisition program, a $3 million permanent loan from Community Preservation Corporation Climate Capital to help finance energy efficiency improvements in the project, and $1.5 million in geothermal and solar federal tax credits. The project obtained a 30-year Payment In Lieu of Taxes Agreement with the town of Greenburgh and village of Tarrytown.

All 23 tenants who lived in the Single Room Occupancy units at the facility prior to the construction remained in the development and will continue to pay no greater than 30 percent of their household income towards their rent. The project’s developer is WBP Development, LLC. Tax credit equity was syndicated by Raymond James Affordable Housing Investments.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “This $54 million project is transforming the historic YMCA of Tarrytown site into safe, modern homes that seniors, individuals, and families can all afford. Thanks to our partners, this development epitomizes many of our top priorities and shows New Yorkers the different ways in which the State is boosting the supply of housing.”

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Providing Westchester residents with the opportunity to live and enjoy clean, modern, and affordable living spaces like we see at 62 Main in Tarrytown will ensure more New Yorkers are benefitting from the State’s energy transition. NYSERDA is proud to support the development of all-electric housing that will help move communities across the state towards a healthier future.”

New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tem Randy Simons said, “We are grateful to HCR for working with our office to preserve key historic features of the former YMCA of Tarrytown. The project is another great example of how the adaptive reuse of historic buildings can expand options for affordable housing, lift local economies, promote sustainability and preserve the heritage of our cities and towns.”

U.S. Senator Charles Schumer said, “Every family in Westchester deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered $19 million to transform the former YMCA into 108 new homes at 62 Main in Tarrytown. These brand new homes will be fully-electric and offer the community a green roof courtyard and electric car charging. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I applaud Governor Hochul’s work increasing access to affordable housing in Westchester and across New York, and I will continue working to deliver federal resources to ensure that every New Yorker has a roof over their heads.”

State Senate Majority Leader Andrea Stewart-Cousins said, “The completion of 62 Main in Tarrytown provides safe, affordable, and sustainable housing for seniors and families, including the 23 former residents of the Single Room Occupancy units. I commend Wilder Balter Partners Development for their commitment to ensuring that these residents were not displaced, and can now enjoy modern, energy-efficient homes that they can afford. This project required the dedication and collaboration of numerous partners, from Wilder Balter Partners to Westchester County to HCR and NYSERDA, with nearly $53 million in critical funding secured through our State Legislature's budget allocations. As Senate Majority Leader, it remains my priority to support housing solutions that serve residents of diverse economic backgrounds while enhancing both Westchester County and New York State.”

Westchester County Executive Ken Jenkins said, “Westchester County was proud to allocate $5 million in New Homes Land Acquisition funds for 62 Main in Tarrytown, a $54 million project that has led to the creation of 108 affordable, sustainable homes for our residents. 62 Main repurposed the former YMCA of Tarrytown into modern, transit-oriented apartments, and is the kind of investment our communities need to ensure access to high quality, affordable housing. I want to thank Governor Kathy Hochul for her leadership in bringing 62 Main to fruition.”

Assemblymember MaryJane Shimsky said, “When we talk about building inclusive communities, that includes the creation of residential options for older residents who seek to stay in the area after raising their families and winding down their careers. 62 Main offers the kind of affordable housing solution our seniors need — with cost-saving energy efficiencies, amenities that include social and fitness spaces, adaptive units for hearing and vision impairment, and walkable access to public transportation and a lively downtown. I am proud that New York State has been a partner in funding this worthy project and welcome 62 Main’s new residents to the neighborhood!”

Greenburgh Town Supervisor Paul Feiner said, “Our community and the entire region has a severe shortage of affordable housing. I am very pleased that 108 families will be able to benefit from a beautiful, new affordable housing complex. The families will be able to enjoy living in a great village—and can walk to the theater, great restaurants, shops, the train station, supermarkets.”

Housing Action Council Executive Director Rose Noonan said, “We are pleased to serve as the non-profit partner in partnership with WB Development and to contribute to the capital stack to make this much needed housing feasible. We are particularly excited about the opportunity it afforded the individuals who lived at the YMCA residence to remain and access quality affordable housing.”

Tarrytown Mayor Karen Brown said, “This development honors Tarrytown’s past while securing its future—providing high-quality, affordable housing for seniors, incorporating cutting-edge sustainability features, and seamlessly blending into the fabric of our historic downtown. The partnership between the Village, Wilder Balter Partners, LLC, and the many agencies that made this possible is a shining example of what can be achieved when a community comes together with a shared vision. We are thrilled to welcome the new residents of 62 Main and celebrate this incredible milestone for Tarrytown.”

Wilder Balter Partners Development President William Balter said, “This development was born out of a collaboration among community members, the local merchants association, Village, Town, County and State stakeholders and several financial partners. We could not be happier with the results. In addition to providing new, energy-efficient affordable housing for seniors, Tarrytown’s vibrant downtown business district has a new municipal parking garage, the original 1912 YMCA building in Tarrytown’s historic district has been repurposed and has a restored façade, and the prior SRO tenants are now living in brand new apartments. It’s a true win-win.”

The Community Preservation Corporation CEO Rafael E. Cestero said, “The work to revitalize 62 Main has breathed new life into this former YMCA building, returning it to the community once again as a hub of activity and as a vital resource of new affordable housing. We are proud to help finance the electrification and energy efficient upgrades to the property that will provide a host of benefits for both the owner and tenants. My thanks to our partners at WBP Development, to HCR, the Town of Greenburgh and Village of Tarrytown, and to NYSERDA for their dedication and collaboration.”

Raymond James Affordable Housing Investments Director of Acquisitions Darryl Seavey said,“Raymond James is very proud to have partnered with Wilder Balter Partners, Inc. as the equity investor in the 62 Main Apartments senior housing development. The newly completed 62 Main Apartments is an extraordinarily well-designed project that helps bring high quality affordable housing opportunities to residents of Tarrytown, while at the same time preserving critical components of the historic former Tarrytown YMCA structure. Accordingly, the historic facade of the YMCA building continues to adorn the streetscape of this busy commercial corridor. Raymond James would like to congratulate the team at Wilder Balter Partners, Inc. on the successful completion of this remarkable new housing community.”

Governor Hochul’s Housing Agenda
Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 55,000 homes have been created or preserved to date.

The FY25 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro Housing Certification is now a requirement for localities to access up to $650 million in discretionary funding. Currently, 285 communities have been certified.