Cuddy & Feder Secures IDA Approval for Redevelopment of Former United Hospital Campus

Cuddy & Feder Partner Eon S. Nichols has successfully obtained IDA financing approval from the Village of Port Chester Industrial Development Agency for the redevelopment of the former United Hospital campus located in the Village of Port Chester.

The IDA financing package includes substantial savings and benefits in connection with the Pilot, mortgage recording tax and sales tax.

Rose Associates and BedRock Real Estate Partners will oversee the development of the project. The $650 million project aims to create a vibrant suburban environment with various housing options, a boutique hotel, retail spaces, a gym, and extensive parking solutions, enhancing the local community with a downtown ambiance.

This expansive 15-acre project will feature 975 apartments spread across five buildings, offering a mix of market-rate and affordable housing, senior living facilities, a boutique hotel, retail spaces, green areas, and parking for 1,088 vehicles.

The site will be divided into nine parcels. One parcel will house around 200 units of senior housing. Two parcels will include 419 residential units in Phase I, alongside 15,370 square feet of retail and 17,000 square feet of amenities. Another two parcels will feature Phase II with 356 residential units, 2,800 square feet of retail, and 7,900 square feet of amenities.