The developer plans to build some market-rate housing as well.

Those buildings now are more likely to be sold for market-rate housing or offices, he said.

To find market-rate housing at that cost in most parts of Westchester is impossible.

It also could serve as a prime location for high technology industries and new market-rate housing.

Most of its market-rate housing is also in high-rise buildings.

"The sale of market-rate housing is particularly important when there are very few dollars to go around," she added.

The city decided, however, to auction the sites for market-rate housing.

For the first time in two decades, market-rate housing and a local movie theater are being built.

After the Games, the village would become market-rate housing.

"Once private developers see this happen, they will put up market-rate housing," he said.