The renovation of the apartments in the 95-unit complex at 120 Lake St. will be accomplished by privatizing the public housing with the authority still the controlling partner in the new private entity.
The privatization allows the authority to sell about $6.5 million in tax-free bonds to private investors.
Officials from the authority outlined their intentions Wednesday morning at a meeting of the Westchester County Local Development Authority, whose board approved a resolution to begin work on helping the authority with a bond issue.
Mack Carter, the housing authority’s executive director, told the board that the renovations at the Lakeview apartments will not displace any residents.
Carter explained that the proposed work at Lakeview is part of the authority’s goal to revamp public housing in White Plains.
That includes the $43 million makeover that has already begun at the Winbrook apartments in downtown White Plains, where construction is underway.