Construction has begun on a $53 million affordable housing complex in Westchester County and a $75 million addition to the Hofstra University Campus in Nassau County. With builders digging in, public leaders take pride in addressing needs—and creating new possibilities.
Tarrytown Building Affordable Housing
The local Housing Action Council has put $53 million in federal, state and county funds together to develop affordable housing at 62 Main Street, in Westchester’s, Tarrytown, New York. Celebrating the ground breaking recently, Tarrytown’s Mayor, Thomas Butler said:
Forbes magazine ranked Tarrytown among the top 10 prettiest town in America. Rich in history, the Village of Tarrytown welcomes the redevelopment of the historic property of the YMCA Building at 62 Main Street. This property, developed by Wilder Balter Partners, will meet LEED Gold Building criteria and preserve Tarrytown’s historic character. The key aspects of this project that specifically benefit the Village of Tarrytown are that it provides 109 units of affordable housing for seniors, it preserves and restores the historic facade of the YMCA building facing Main Street, and it adds 65 much-needed municipal parking spaces for our residents and Downtown Business District.
One project, carefully planned, can accomplish a lot, right? What do you have your eye on building, next? Colonial Surety is here to help. We’ve taken the pain out of the old fashioned bonding process, making it easier—and more confidential than ever—for contractors to obtain, manage and monitor needed bid, performance and payment bonds. Contractors who complete a brief (we promise!) pre-qualification for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores.
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Innovating in Nassau County
New York Construction Report notes that building has also begun on Hofstra University’s $75 million Science and Innovation Center in Hempstead, Long Island. In addition to providing space for engineering and applied sciences, the 75,000 square foot building will also enable expanded space for nursing and physician assistant studies. Toward the $75 million dollar cost, Hofstra secured a $25 million grant from Empire State Development (ESD). State leadership sees the project as highly significant:
As we emerge from the global pandemic and build New York back better than it was before, we must fully recognize the critical role cutting-edge science and skilled healthcare professionals played in fighting COVID-19….This state-of-the-art facility at Hofstra University represents an investment in the innovative technology and professional workforce that will better prepare New York State for the public health challenges of the future.
Throughout the country, funding partnerships are resulting in many exciting new efforts. Many aim for green–and speedy–transit. Billions are going to modernize airports and ports are getting long needed attention too. What about you? Stuck? Let’s get you moving with The Partnership Account® from Colonial Surety Company. Then, you can go after lots more new projects with speed and confidence — knowing your bidding and financial information is secure.
Get Moving with The Partnership Account®
Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!