Page 25 - The Business Council of Westchester - 2018 Relocation Guide

land Counties, having spearheaded recent projects such as the River Tides at Greystone in Yonkers, Harbor Square in Ossining, The Lofts on Saw Mill River in Hastings-on-Hudson, and the upcom- ing project of Fort Hill Apartments at the Abbey Inn in Peekskill, as well as Rockland County’s Harbors at Haverstraw. River Tides at Greystone, for example, is a 330-unit, resort-style rental complex that has a di- rect walkway to the Greystone Metro-North train station. The Lofts on Saw Mill River features 66 loft-style rental apartments, in- cluding affordable housing. Harbor Square is located on the Ossining waterfront, right by the Metro-North train station and boasts 188 rental units, 95% of which have been rented.
Who is the audience for these various de- velopments? Martin Ginsburg, founder and principal of GDC, says they are appealing to a cross section of the population, from empty nesters to Millennials. “The transit location is attractive to empty nesters who appreciate not having to drive to the rail- road station and live without the cares of maintaining a house. We also offer the life- style of a resort so that they feel that they are on vacation all year long, and since the Hudson Railroad is on the river, they also enjoy the river views.
“Of course,” Ginsburg continues, “the Millennials also love the convenience and beauty of these apartments, and we have a wide price range and size of apartments. What’s not to like when the environment is beautiful, with resort amenities and a 30-minute rail ride from Grand Central Station?” GDC properties also feature a diverse residency, includ-
ing approximately 35% Millennials and 35% empty nesters.
G D C ’s c u r r e n t p r o j e c t s a l s o i n c l u d e Fort Hill Apartments at the Abbey Inn in Peekskill,whichwilltransformaformercon- vent into a tourist destination, with luxury rentals, townhomes, an inn, a spa, a restau- rant and parkland; and 1177 @ Greystone, a 55-unit luxury rental building overlooking the Hudson on Warburton Avenue in Yon- kers, both with scheduled occupancy in the spring of 2018.
Long Island-based RXR Realty LLC, an- other major force in transit-oriented de- velopment, is spearheading TOD projects in Westchester, too. One of them, at 587 Main Street in New Rochelle, is a 28-story, mixed-use building containing 280 residen- tial rental units and retail space. The project is expected to begin leasing in early 2019.
RXR also wants to develop an approxi- mately $300 million rental project of two 28-story towers at the site of the Church Division parking garage in New Rochelle, within walking distance of the train station. The multifamily project, which is proposed to begin construction in 2018, would have approximately 650–700 rental residential units and 35,000–40,000 square feet of re- tail space at the towers’ bases.
Mayor Noam Bramson of New Rochelle says his city is all in with this ambitious downtown development effort. “We aim to create a thriving, walkable, culturally and economically vibrant city center that provides an ideal blend of housing, employ- ment, entertainment, and retail options, he says. “Success will benefit the regional econ- omy, strengthen our tax base and advance essential environmental goals by empha-
Hi-res architectural renderings give prospective residents a glimpse into
the future. Top left: Peekskill’s Fort Hill Apartments at the Abbey Inn offers an inn,
a spa, a restaurant and more than 60 acres of hiking trails. Top right: 1177 @ Greystone,
a 55-unit luxury rental building in Yonkers,
is scheduled for occupancy in the spring of 2018. Above: Developed by LCOR, Phase I of Continuum in White Plains boasts 288 luxury residential units in a 16-story tower replete with upscale amenities.
sizing smart growth development patterns with good access to mass transit. With mul- tiple projects now under construction and many more approved, we are encouraged by the pace of investment and looking for- ward to dramatic positive changes in the years ahead.”
LIVING IN WESTCHESTER AND THE HUDSON VALLEY | RELOCATION & MOVING GUIDE 23