Luxury rental apartments sprout in Lower Hudson Valley

141 Pages·2016·4.68 MB·English

by  Brief, Ellen

Luxury rental apartments sprout in Lower Hudson Valley
Akiko Matsuda
lohud.com
February 17, 2016
GDC focuses on rentals by the Hudson
River (Photo: Kai Teoh/The Journal
News)
New rental apartments being built
near transit hubs are loaded with
amenities: Once-premium items
such as club lounges and on-site
fitness centers are now standard,
so developers are going even
further, adding swimming
pools, spas or yoga studios to
entice residents willing to pay top rent.
"Because that’s what the market wants, and that’s what the market needs," said Frank
Boccanfuso, managing principal of Phoenix Partners, which is developing its second rental
complex in Port Chester. "We're just meeting the demands. That’s all."
The Castle, Boccanfuso says, will be ready for move-ins by the end of this month. Rents start at
$1,968 for a studio and $2,726 for a two-bedroom.
Hundreds of new luxury rental apartments will hit the Lower Hudson Valley market this year,
and a few thousand more will follow in the coming years.
A rendering of Ginsburg Development Cos.' Harbor
Square in Ossining. (Photo: Kai Teoh/The Journal
News)
The luxury trend has been growing since the
housing market collapsed in 2008. As loans
for condominium construction dried up,
developers switched to rentals, which turned
out to be popular with millennials and
empty-nesters.
The vacancy rate for rental apartments in
Westchester was 3 percent in the third
quarter of 2015, down 0.2 percentage points from the same period in 2014. The U.S. Department
of Housing and Urban Development says the national average is about 7 percent.
“There's no question in my mind, particularly with millennials, these people are not interested in
living in the country.”
Housing advocates say they're concerned that most new rental apartments are not affordable. The
average monthly rent in Westchester for third-quarter 2015 was $2,037, up by 2.5 percent from
the monthly average a year before, which was $1,988, according to HUD.
Luxury rentals sprout
Even during the normally slow winter months, apartment construction continues throughout
Westchester. On Main Street at Midland Place in Tuckahoe, about a 10-minute walk from the
train station, workers are building the 108-unit Quarry Place complex.
"We hope to have it completed by June, early summer," said developer Glen Vetromile of
Glenco Group.
Construction of Quarry Place, a 108-unit luxury rental
apartment complex in Tuckahoe, is expected to be
complete in early summer. (Photo: Akiko Matsuda/The
Journal News)
Construction is also running at full speed on
Westerly Road in the village of
Ossining. Ginsburg Development Cos., once
known for its waterfront
luxury condominiums, is building 188 rental
apartments near the train station. The
development, Harbor Square, is slated to start
leasing in mid-April with the first move-ins in June.
Company founder Martin Ginsburg said easy access to public transit and generous amenities
are important ingredients for successful rental apartments.
"There's no question in my mind, particularly with millennials, these people are not interested in
living in the country," he said.
Another Ginsburg luxury rental complex, Riverside at Harbors at Haverstraw, began leasing its
106 apartments — ranging from studios to three-bedrooms — in June. About 70 percent
have been rented, according to the company.
Martin Ginsburg talks about how he wants his properties to be attraction points
for tourists and locals alike. (Photo: Kai Teoh/The Journal News)
Newlyweds Adam and Nicole Fallacaro, both 26, moved into a one-
bedroom Riverside unit in October. They chose the complex because
it offers an easy commute while being close to their families and
friends, Adam Fallacaro said.
Nicole Fallacaro said, while renting, they want to learn more about
Rockland County to see whether they want to stay.
"We didn't know where, exactly, we wanted to settle to buy a house,
because it's a very large investment for us," she said.
Before getting married, they lived in Hoboken, New Jersey.
"Hoboken is very expensive. And you don't get much space, square footage, compared to the
space you could get here," Nicole Fallacaro said.
They pay about $2,000 a month, which includes reserved garage spots and access to Riverside's
swimming pools and fitness centers.
The dining/living area of a one-bedroom apartment
at Riverside at Harbors-at-Haverstraw. (Photo: File
photo by Tania Savayan/The Journal News)
“We had some visions here, and we saw
what’s going to happen, what people would
want. And it turned out to be we were right.”
Other luxury apartments planned in
Rockland include one on Orange Avenue in
Suffern, about a three-minute walk from the
Suffern train station. Construction of the
five-story, 92-unit luxury building is slated
to begin next month.
About a dozen projects are in the pipeline throughout Westchester.
Boccanfuso, developer of The Castle in Port Chester, said his first project in the village, The
Mariner, a 100-unit complex in the heart of downtown and a short walk to the train station, has
been fully occupied since it opened in 2012 by young professionals attracted by its convenient
location and the area's "Brooklyn vibe."
"We had some visions here, and we saw what’s going to happen, what people would want,"
Buccanfuso said. "And it turned out to be we were right."
The Castle, a 120-unit luxury rental
apartment complex in Port Chester, will
be ready for occupancy by the end of
February. (Photo: Phoenix Partners)
Resort-style living in demand
“It feels like we are vacationing,
rather than living. This is stress-
free living.”
Steve Lichtenthal, tenant at
Haverstraw's Riverside
Along with millennials, luxury
rentals are designed to attract empty-nesters, such as Steve and Wendy Lichtenthal.
Lichtenthal, 67, and his wife have been renting a 1,400-square-foot, two-bedroom apartment at
Riverside in Haverstraw since November, after they sold their 18-room house in Palisades.
"We moved to make our life simple," said Steve Lichtenthal, recalling that the large house,
where the couple raised their three children, required constant attention, from lawn care to
swimming-pool maintenance.
Living in the complex "feels like a hotel. It feels like we are vacationing, rather than living," he
said. "This is stress-free living."
Vetromile, developer of Quarry Place, said his apartments would cater to people like the
Lichtenthals.
"It’s a type of housing — lifestyle — in strong demand. People don’t necessarily want to live in
homes anymore, particularly when children are grown," Vetromile said. "And if they find
buildings that have a lot of amenities, they find it very attractive as an alternative to single-
family-home living."
Rendering of the 108-unit Quarry Place, which is under construction on Main
Street in Tuckahoe. (Photo: Glen Vetromile)
Ginsburg agreed, saying that his other upcoming luxury rental
developments — 66 loft-style apartments in Hastings-on-Hudson
and a 330-unit complex in Yonkers — both offer plenty of amenities, such as concierge service,
a spa and a fitness center. Leasing at the Hastings complex is set to begin in June and Yonkers in
the fall.
Not affordable
Resort-style living comes with a high cost. For example, the monthly rent at Harbor Square in
Ossining will range from $1,795 for a smaller one-bedroom unit to more than $5,000 for a large
two-bedroom corner apartment with a balcony overlooking the Hudson River.
The expensive rents are worrisome to those who already live in the community, said Ann Gulian
of Ossining.
The interior of one of the unfurnished Harbor
Square two-bedroom rental units. Large
windows offer a view of the Hudson River, the
Haverstraw ferry and a park. (Photo: Kai
Teoh/The Journal News)
"They are not geared toward the
average-income people in Ossining,"
said Gulian, a music teacher who has
been living in the village since 1991.
The scarcity of affordable housing has
been a contentious issue throughout the
Lower Hudson Valley. The Ossining
village Board of Trustees in 2006 adopted an Affordable Housing Policy Statement, which
requires a new development of six or more units to set aside 10 percent of the units as affordable.
Such requirements are common in the region. In the case of Harbor Square, Ginsburg promised
to reserve 19 units for tenants at 80 percent of Ossining's median annual income of about
$66,000.
"The ideal scenario is a balance of both affordable and luxury housing," said Ossining Mayor
Victoria Gearity. "If there is enough affordable housing to meet the needs of our
socioeconomically diverse community, then additional luxury apartments would not be
perceived as a problem."
Ginsburg said the influx of new residents with disposable incomes would benefit the community
because they shop and dine locally.
"The downtown of Ossining is the handsomest downtown of all the villages. Architecturally
most attractive," he said, adding that his goal as a developer is to create destination places along
the Hudson River to promote tourism. "It's going to be a very special place for people to live."
Developer proposes senior living facility in W. Harrison

Christopher J. Eberhart
lohud.com

February 18, 2016
Community near the Harrison quarry is against a proposed project for the site, but it could
end years of litigation.
(Photo: JAL Architecture)
A developer is proposing a 160-
unit senior living facility on Lake
Street in West Harrison that could
end years of litigation over the
site.
The proposal, which would be
the first senior living facility in the
town, would replace a now-
defunct quarry at 600 Lake
St., which is littered with mounds
of debris.
If the proposed facility and accompanying zoning change for the quarry is approved, it would
end "decades of operations that did not comply with the Harrison zoning code ... and several
years of heated litigation" between the town and the property owner, said the developer's
attorney, David Steinmetz, of the White Plains-based law firm Zarin and Steinmetz.
But residents living in the neighborhood around the project site say the development would
be too big and out of character for the area, comes too close to nearby homes, and would
cause traffic congestion.
A grassroots community petition against the proposal has garnered over 300 signatures.
"I'm going to be the most impacted. I'm right
there," said resident Joe Surace, who lives
across the street from the site. "This building
is going to tower over my house."
“This building is going to completely change
the landscape of the neighborhood,” said
Vanessa Pretious, who lives on the hill behind the project site. “People like the neighborhood the
way it is and now it’ll be dramatically changed.”
The now defunct Lake Street Granite Quarry in West Harrison. (Photo: Seth Harrison/The Journal News)

Vanessa Pretorius stands in her backyard, high above the
now defunct Lake Street Granite Quarry in West Harrison.
Pretorius and several of her neighbors are opposed to
plans to build a 160-unit senior living residence on the
site. (Photo: Seth Harrison/The Journal News)
The developer, Brightview Senior Living,
applied for a zoning change so it could move
ahead with its proposal. Brightview signed a
contract to purchase the 7.3-acre property from
Lake Street Granite Quarry, Inc., but no sale has
been finalized, Steinmetz said.
Harrison’s assessment rolls list the property’s market value at $971,874.
The site was the home of the Lake Street quarry in the early 1900s, and has been defunct for
several years. Owner Lawrence Barrego bought the property in the late 1980s, according to land
use documents, and used it as recycling facility for construction and demolition material in the
late 1990s up until a few years ago.
Barrego didn't return calls for comment.
Mayor Ron Belmont said the building department has brought a number of code violations
against the quarry and issued stop work orders forcing the shutdown of the recycling facility on
the site.
Lake Street Granite Quarry defended the charges in court and challenged the town’s stop work
orders, Belmont said.
In 2013, the state appellate court made a ruling on Barrego's challenge and said he had to comply
with local town laws. The appellate court referred the decision about continuing quarry
operations back to the Supreme Court, according to the appellate court's ruling.
Court documents show Harrison and the Lake Street Granite Quarry ultimately agreed to settle
local court matters in December 2014.
According to the settlement, the town agreed to waive what could be as much as $825,000 in
violations levied against the quarry, and the company agreed to stop excavations and operations.
In addition, as part of the settlement, the Lake Street quarry or a potential buyer of the property
had to submit an application for a 150-to-185-unit senior living facility, which was based off a
market analysis.
Steinmetz said his client's proposed project is in line with the settlement.
“This one is a win/win for the Town of Harrison and a home run for the larger community,” he
said. “Brightview continues to maintain that its proposal will permit the town to permanently
eliminate the nonconforming quarry operations, remediate the site and redevelop it with a high-
quality assisted living project.”
If the senior living facility proposal isn't approved by the town board, Belmont said Harrison and
Lake Street Granite Quarry will "most likely end up back in court.”
Goldens Bridge discusses affordable housing
By Jeff Morris
Lewisboro Ledger
February 18, 2016
A large number of people attended a meeting of the Goldens Bridge Hamlet Organization
(GBHO) on Feb. 10 to express concerns, and opposition, to a proposal for an affordable housing
complex in the hamlet.
The GBHO meeting was intended as an informational session, providing an overview of the
housing proposal. It included presentations on basic facts about the complex; a timeline of the
history of affordable housing in Lewisboro; legal and technical aspects of the county Affordable
Housing Settlement; “tax facts” regarding the development; impact on the school district; and
peripheral impacts on first responders and traffic volume. The presentation also included next
steps the community could take.
The proposal
The Wilder Balter project is a proposal by Wilder Balter Partners Inc. to build 46 units of
affordable housing off Route 22 in Goldens Bridge. The property in question involves three
parcels of land, currently owned by Louis Dreyfus Property Group, and is directly across from
the exit off northbound I-684. It became eligible for such a development after the recent change
to Lewisboro’s zoning laws that permits multi-family housing in the town’s commercial, retail
and business zones.
The development proposal was originally for 49 units, as first presented to the Planning Board in
November. That number had been reduced to 46 when Wilder Balter again went before the board
in December. The proposal is still pending before the board, as a motion to make the Planning
Board the lead agency providing oversight failed when some members said they needed more
information before agreeing to such a role.
While GBHO officers, led by Chair Jonathan Monti, made clear that the organization was acting
strictly as a neutral provider of information — a requirement, given the group’s plan to
incorporate itself as a 501(c)(3) not-for-profit organization — many in the audience were not
satisfied with that status, and wanted to know what they could do to bring pressure on the town
to disapprove the proposal.
“You guys had mentioned that you’re very concerned with the facts, and putting a lot of weight
on the facts,” said Al LaPorte of Goldens Bridge. “I, as many of you know, have been involved
in the town, in private property issues, Town Board issues, Planning Board issues, and I’ve seen