Rose Associates, the New York-based multifamily real estate developer, has broken ground on three new rental properties located in Long Island City, White Plains and Yonkers.
Rose and its partners are in the early stages of construction at these properties that total more than 1,000 apartments.
The White Plains and Yonkers developments are indicative of Rose’s renewed focus on Westchester County, where the company was very active in the ‘60s, ‘70s and ‘80s. During that period, Rose developed rental properties in Hartsdale, White Plains and Mount Kisco while owning and managing retail in Rye, Scarsdale and Shrub Oak.
In 2016, Rose began to pursue new opportunities in Westchester. In addition to White Plains and Yonkers, Rose has purchased a 15.5 acre site in Port Chester where it’s planning a mixed-use development with BedRock Real Estate Partners.
“This is an especially active and exciting time for us and we are pleased that construction is underway at these transit-oriented developments,” said Amy Rose, President and CEO of Rose Associates. “Each property is well located and boasts its own unique features from expansive amenity space in Long Island City to a waterfront esplanade in Yonkers.”
In Long Island City, Rose Associates and Werwaiss Properties are together developing 8 Court Square. Werwaiss Properties is a multi-generational, family-owned real estate management and development company based in Long Island City where they have been active members of the community for more than a century.
8 Court Square will offer 157 apartments in studio, one- and two-bedroom configurations. The building will feature approximately 14,000-square-feet of indoor and amenity space and more than 17,000-square-feet of prime retail space. The property is just steps away from the Court Square subway station and its 7, E, M and G lines.
In White Plains, Rose is leading an adaptive reuse of the former AT&T building at 440 Hamilton Avenue and also constructing a new, mid-rise addition on an adjoining parking lot.
The property will feature 468 apartments in studio, one- and two-bedroom configurations. 440 Hamilton is located in downtown White Plains with easy access to the city’s retail and restaurant hub and within walking distance of Metro North’s Harlem Line.
In Yonkers, Rose and Battery Global Advisors are creating 440 rental apartments in studio-, one-, two- and three-bedroom configurations. Located along the Hudson River at 57 Alexander Street, the four-acre property is adjacent to the Metro North commuter rail and Amtrak train.
Marc Ehrlich, Chief Investment Officer at Rose Associates, said: “Each of these projects is located within convenient walking distance of mass transit, which is a guiding principle of our firm’s current and future development planning. These buildings will be ready for occupancy in 2023.”