Kendal on Hudson Renovation Project in SH Receives County Financing

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Rendering of Terrace Lounge at Kendal on Hudson.

December 6, 2024

By Rick Pezzullo—

A renovation project at Kendal on Hudson in Sleepy Hollow recently received a financial boost from Westchester County.

The Westchester Local Development Corporation voted preliminary approval on Nov. 25 of $20.6 million in tax-exempt bond financing to the life plan community at 1010 Kendall Way.

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“Kendal on Hudson has long been an integral part of Westchester County and the lower Hudson Valley, providing the highest quality of care for its residents and contributing to the local community,” said Westchester County Executive George Latimer. “The 30-year tax-exempt bond financing from the Local Development Corporation helps ensure Kendal on Hudson’s long-term viability.”

The $32 million project consists of renovating, improving and maintaining Kendal on Hudson, consisting of 222 residential rental units, administrative spaces and the common amenities with central dining facilities, a library, fitness center/pool, auditorium, and other shared spaces, across four buildings, which are connected by an approximately 50,000 square feet “spine” and an approximately 8,000-square-foot terrace.

The project is designed to improve accessibility and functionality in both interior and exterior common spaces consisting of the renovation of approximately 48,000-square-foot interior areas and 6,500-square-foot exterior terrace renovation, as well as the addition of an approximately 1,600 square feet of common space.

The project will create 52 construction jobs, including 36 direct jobs for Westchester County residents during the construction period. Project renovations are expected to begin in 2025 and will take approximately 24 months to complete.

According to a cost-benefit analysis prepared for the LDC, the project will result in a total benefit to the county of $2,160,840 at no cost to the county. Kendal on Hudson is not requesting a mortgage recording tax exemption. The annual economic activity resulting from the project is expected to retain 248 jobs, $19 million in earnings, and $40 million in economic output for Westchester County.

Kendal at Hudson offers 222 apartment residences across four connected buildings. The campus also features an extensive community center, dining rooms, suites for residents needing supportive services, and a health center providing short- and long-term nursing care. Kendal on Hudson is an affiliate of the Kendal system. As a not-for-profit community based on Quaker principles, Kendal is a nationally known leader in promoting lifelong learning, wellness and fulfillment for older adults.

The LDC assists Westchester not-for-profit organizations in securing tax-exempt bond financing benefits.

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