Inauguration of a 500-unit project near White Plains station
Construction of a high-rise mixed-use development in White Plains, a short walk from the city’s train station, is expected to be completed in the first half of 2024, the project developer announced on Wednesday.
Once the Gateway II project launches, it will offer 500 luxury rental housing units and 19,000 square feet of retail space, as well as 60,000 square feet of amenities, according to developer Greystone Real Estate Partners.
The project, dubbed 25 North Lex, is expected to be a twin-tower development built where parking currently sits opposite the Gateway I office building in North Lexington. The site is finally seeing construction after plans for an office complex in the 1980s fell through because the then developer had financial problems.
The project would contain 755 parking spaces, with most going to 25 North Lex and the rest going to the Gateway I building.
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Only 15 units on the site will be affordable while the other 25 affordable units will be bought out by the developer, according to documents submitted to the city last year. The nearby Westchester County bus depot for Bee-line bus service and the separate parking structure on New Street would not be affected by construction, according to the developer.
A groundbreaking ceremony took place on Wednesday afternoon with local elected officials and members of the development team.
White Plains Mayor Tom Roach called the grand opening a “significant milestone” for the city. In a statement, he said the project will amplify improvements that have been made to the Metro-North station. A $95 million station renovation was completed last fall.
The intersecting 16-story and 25-story towers will be built atop a four-story podium that would cover a parking lot. Multi-family rental units will include one-bedroom, two-bedroom, three-bedroom and studio apartments.
Facilities include a fitness center, children’s rooms, dining and meeting rooms, a sports/media lounge and a golf pacer. The building will also have two outdoor recreation areas. More than 800 residents are expected to live in the new complex, according to the developer.
Greystar operates $230 billion in real estate across 215 markets globally. This project would be the South Carolina-based company’s first residential complex in New York.
Gary Kerr, chief executive of Greystar, said in a statement that the location is “ideal for those seeking a dynamic living/working/playing environment.”