Housing Action Council Accepting Applications for 51 Affordable Condos in Larchmont

Press release:

Housing Action Council is now accepting applications for Pinebrook Condominium, a fair and
affordable housing development at 2101-2105 Palmer Avenue in the Village of Larchmont.

When completed, Pinebrook will provide affordable homes for individuals and families who
cannot afford housing in the private marketplace. Prices range from $155,000 to $241,200 depending
on square footage. The development is designed to reach households whose incomes are no greater
than 80% of the median income of Westchester County.

The median income for a family of four is $103,700. Eligible applicants are singles whose income is no greater than $58,100; 2- persons, $66,400; 3 persons, $74,700; 4 persons, $83,000; and 5 persons, $89,650.

Condo features include spacious apartment layouts (750 sq. ft to 1630 sq.ft) each with a
balcony in two elevator buildings with covered parking. Heat and air conditioning are individually
controlled and energy efficient. Its Tudor style exterior will complement nearby residential buildings. It
is within walking distance to the Village’s retail center, Pinebrook Park, and the Larchmont Train Station.

“Pinebrook is an exciting new opportunity for families of modest means to become
homeowners in a community known for its award winning schools and proximity to major employment
centers,” according to Rose Noonan, Executive Director of Housing Action Council.

Mayor Anne McAndrews expressed her excitement that Pinebrook is finally happening. “We welcome the
prospective homeowners and look forward to their participation in community activities.”

The developer is Wilder Balter Partners, a major builder of affordable and luxury housing in the Hudson Valley. Housing Action Council, a regional non-profit, is marketing and qualifying applicants for this development. M & T Bank is the construction lender. The County of Westchester and the State of New York have provided financial assistance to assure the affordability of these homes. These 51 homes contribute to the 750 homes that the County must facilitate under its 2009 Housing Settlement with HUD.

Applications will be accepted through September 24. A lottery will be held on September 30 to
determine the order in which applicants will be qualified. A Spring/Summer 2015 occupancy is
planned.

For more information call (914) 332-4144, email hac@affordablehomes.org or visit www.housingactioncouncil.org.

Photo: Housing Action Council