Forest City Realty Trust sells Yonkers’ Ridge Hill mall to Australian investment firm
Forest City Realty Trust announced this week that it would sell its ownership stake in Ridge Hill, a 1.3 million-square-foot retail, entertainment and medical office complex in Yonkers, to new owners headquartered in Australia. The sale also includes interest in nine other malls across the U.S., purchased by QIC, a government-owned investment firm in Brisbane, according to the Westchester Business Journal. The group of malls is valued at $3.18 billion and Forest City’s share was valued at $1.55 billion, the report said. Forest City previously announced that it would be selling its majority interest in a 2.1 million-square-foot NYC metro area retail portfolio to Madison International Realty. [WBJ]
Charter Communications plans new 500,000-square-foot headquarters in Stamford
Cable giant Charter Communications on Tuesday proposed a large new headquarters in Stamford. The company said it intends to build a 500,000-square-foot, 15-story building at Gateway Harbor Point, according to the Fairfield Business Journal. The company, considered the second-largest cable provider in the U.S., relocated operations to the city in 2012. Charter said it would create an additional 1,100 jobs at the new facility, which will break ground after receiving land-use approval from the city. [FBJ]
MacQuesten’s commuter-friendly affordable housing development opens in Mount Vernon
A $31.5 million mixed-use affordable housing development opened late last month in Mount Vernon. The Modern, which has 81 rentals and 9,300 square feet of ground-level office and community space, opened at 130 Mount Vernon Avenue — once a struggling commercial corridor, according to Patch.com. Built by MacQuesten Development, the project is intended to be revitalize the Mount Vernon West Transit District. The 11-story building has one- and two-bedroom apartments ranging from 654 square feet to 906 square feet. [Patch]
Former Ossining estate of Ira and George Gershwin on market for $1.5 million
S’wonderful! An Ossining estate that once belonged to famed composers Ira and George Gershwin is on the market for $1.5 million. This property, located at 15 Hoags Cross Road, has four bedrooms and four and a half bathrooms and is set on six acres. It boasts a long, gated driveway with a pillared entry, a private lake, heated gunite pool with Jacuzzi and a 1,500-square-feet flagstone patio, according to Patch. The great room has a cathedral ceiling, stone fireplace and custom wet bar. Mark Seiden Real Estate Team has the listing. [Patch]
National Whole Liquidators sues mall for Yonkers roof collapse
The owner of a discount store at the Mall at Cross County in Yonkers, where a rooftop parking deck collapsed earlier this year, is suing the landlord for $5 million. The roof fell in on Jan. 11 when a contractor was using heavy machinery in an area with a weight restriction, the Westchester Business Journal reported. The Bobcat machine fell into the store, National Wholesale Liquidators, and five people were injured. The lawsuit filed in Westchester Supreme Court alleges that AAC Cross County Mall ignored structural problems and the roof work was being done without a permit. [WBJ]
Stamford Museum breaks ground on $5M environmental education center
A $5 million addition for the Stamford Museum & Nature Center got underway with a groundbreaking ceremony Monday. The new farmhouse, which will be used for environmental education programs, marks the center’s first major addition in 50 years, according to the Stamford Advocate. The farmhouse was part of a 2010 master plan but was put on hold after the recession. The current plan relies on a mix of public and private funds, including more than $2.5 million pledged by the state and $300,000 from the city. Renderings show a 4,000-square-foot farmhouse with a deck overlooking Heckscher Farm, designed by Hartford architects TSKP Studio. It is expected to be completed in 18 months. [StamfordAdvocate]