Demand for apartments in White Plains is fueling the construction of a three-building apartment complex of 300 units along Westchester County’s ‘Platinum Mile.’
One week after Wegmans opened in the area, real estate firm RPW Group told The Journal News/lohud that construction of a $95 million, 303 apartments on what is currently a parking lot at 1133 Westchester Ave. has begun. Each building will be five stories high.
The site at 1133 Westchester Ave. consists of two parking lots and a 600,000-square-foot office building on 20 acres that is home to The Journal News/lohud, orthopedic surgeon group HSS Westchester and law firm Wilson Elser, to name a few.
WEGMANS TREND: 4 places where new apartments feature groceries, fitness nearby in Westchester
PLATINUM MILE: Wegmans welcomes customers to its first Westchester store day after Tropical Storm Isaias
WHITE PLAINS: Developer wants hi-tech office park on White Plains’ Platinum Mile in COVID-19 world
Andrew Weisz, of RPW Group, said despite the coronavirus and a bear rental market in the suburbs of New York City, the development group is confident the new apartment complex will attract renters because of its distance to White Plains’ high-density city center and train station, and its proximity to Wegmans, the Maple Moor golf course and other local amenities.
“There was high demand for well-built residential product in Westchester County pre-COVID-19,” said Weisz, an executive VP at RPW Group. “If anything, COVID-19 may have accelerated that with the suburban migration from Manhattan.”
The apartment complex at 1133 Westchester Ave. will be known as The Flats at Westchester and is a joint-venture by RPW Group of Rye Brook and NRP Group of Cleveland, Ohio.
Of the total, 19 units in the apartment complex will be allocated for residents making 60% of the area median income. Apartments at The Flats at Westchester will feature one, two and three bedrooms. The apartment complex will include a 12,000-square-foot outdoor recreation space.
RPW and NRP will hold a ceremonial groundbreaking at 1133 Westchester Ave. on Aug. 18. Construction is slated to continue through 2021, Weisz said.
The Journal News/lohud reported the Westchester County Industrial Development Agency granted a $1.8 million sales tax incentive for The Flats at Westchester in April 2019.
Weisz said RPW and NRP are seeking approvals for a second apartment complex on Westchester Avenue.
RPW and NRP are part of the broader repurposing of old office properties along the I-287 corridor that began when the former Journal News building on Gannett Drive was demolished to give way to Life Time Athletic.
Pennsylvania-based real estate developer Toll Brothers and JPMorgan Asset Management are also developing a $157 million apartment complex next to Life Time and Wegmans.
Mario Marroquin covers real estate and economic development. Click here to see his latest stories. He can be reached at mmarroquin@gannett.com or @mars3vega
"along" - Google News
August 12, 2020 at 05:07PM
https://ift.tt/30Ol2bu
Hundreds of apartments underway along White Plains, Harrison 'Platinum Mile' - The Journal News / Lohud.com
"along" - Google News
https://ift.tt/2z4LAdj
https://ift.tt/35rGyU8
Bagikan Berita Ini
0 Response to "Hundreds of apartments underway along White Plains, Harrison 'Platinum Mile' - The Journal News / Lohud.com"
Post a Comment