The 860-unit Hamilton Green development project in White Plains is receiving a shot in the arm courtesy of one of the nation’s largest developers, RXR Realty.
Scott Rechler’s RXR will lead the first phase of construction, the Westchester and Fairfield County Business Journals reported. RXR agreed to the deal through a related entity, RX Hamilton Investor. The entity will serve as the developer of the project, according to attorney Mark Weingarted, representing seller WP Realty.
The development at 200 Hamilton Avenue will take shape at the site of the White Plains Mall. The conceptual development plan and site plan have already been approved, though the developers are seeking an extension on the latter, set to expire next week.
The project was given a $585 million valuation in 2019.
The approved project will include units spread across four buildings, along with 85,000 square feet for retail, 27,000 square feet for offices and 55,000 square feet of open space. The development also plans for 956 parking spaces.
The project is expected to be built in separated phases and construction can begin as soon as next year. The first phase would involve building 470 luxury rental units in two buildings, as well as a 30,000-square-foot marketplace and 45,000 square feet of open space, according to the report. In the first phase, there would be 56 affordable apartments created.
RXR does want to make some changes to the approved project. Those being considered include moving the planned four-story parking garage underground and ditching the 27,000-square-foot office space, a move that comes as Covid’s Delta variant continues to upend the return to office
[WestFair] — Holden Walter-Warner