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Deals & Dealmakers

MIXED-USE DEVELOPMENT APPROVED BY VILLAGE OF PORT CHESTER

Rose Associates and BedRock Real Estate Partners have announced that they received final site plan approval from the Village of Port Chester to develop a 15.45-acre site that has been unused for almost 20 years. The expansive property at 406 Boston Post Road, once home to United Hospital, will be completely redeveloped into a vibrant mixed-use community comprised of a half-acre of open green space surrounded by multi-family
housing, retail and restaurant spaces, a boutique hotel, and assisted living senior housing.

“Port Chester is one of metropolitan New York’s most exciting villages and we are thrilled to
start work at this property that’s been vacant and unused for far too long,” said Amy Rose,
president and CEO of Rose Associates. “In addition to hundreds of apartments, we’ll be creating attractive amenities that will be accessed through a much-improved streetscape along Boston Post Road.”

Located on Route 1 at the intersection of I-95 and I-287, the property is within walking distance to the Metro North commuter rail station in Port Chester, NY. There are a number of vacant buildings at the site, which Rose and BedRock will raze in a first step toward creating the new, mixed-use community. Plans call for 775 multifamily rental apartments, 90 independent living apartments and 110 assisted- and memory-care units, a 120-key boutique hotel and more than 18,000 square feet of retail space.

“It is incredibly exciting to reach this milestone and we are thankful to the Village and their
consultants for taking the time to work with us, examine our plans and provide their approval,” said Michael Adamo, managing director of acquisitions at Rose Associates, which is currently developing two other multifamily properties in Westchester. “We’re excited to move forward with our plans and to create something that’s beneficial to Port Chester and the region.”

The developers received final site plan approval from the Village of Port Chester at the Board of Trustee’s October 17, 2022 meeting. Building abatement and demolition is scheduled to begin in early in 2023.

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