Ruthmarie Hicks

Although the headline in The Journal News appeared somewhat pessimistic, ( Big Plans, ‘Change With Times’) the details revealed the long-term optimism in the housing market by large developers with respect to Westchester County.

The article outlined the major building projects that are ongoing on both sides of the Hudson. In Westchester, only two projects have been temporarily derailed and both of those had more to do with local political pressure than the economy.

All of this is very exciting and shows the tremendous potential that Westchester has for its current and new residents. Further, it represents over $3.7 billion of investment into new construction during one of the biggest housing slumps in thirty years…

But this begs the question – why here? Why now? If you look at the projects, all have several things in common: They are located in cities/towns/villages where there is easy access to public transportation into NYC and easy access to town and shops by foot. Real estate has always been about Location, location, LOCATION. Slump notwithstanding, some things never change. The easy access to Manhattan is WHY Westchester is still so desirable. It is less expensive than Manhattan, while catering to those who enjoy Manhattan and want NYC close at hand. Each of these developments is providing a little piece of Manhattan by creating high-end dining/retail and entertainment within a walkable distance but with the added ease of lower density suburbia. For those who consider Manhattan “home” it is easily accessible by a pleasant train ride.

The current large projects include:

YONKERS:

Waterfront downtown redevelopment at an estimated cost of $1.6 billion which includes 1400 housing units, 1.12 million sq.ft. in retail space, a hotel and a ballpark with room for 6500 seats. Public comment period has just ended.

Ridge Hill development at an estimated cost of $630 million including 1.2 million sq.ft. of retail/entertainment, 155,000 sq.ft. of office space, 1000 units of housing. Currently under construction.

NEW ROCHELLE:

LeCount Square at an estimated cost of $450 million including 400,00 sq.ft. of office space, 212,000 sq.ft of retail/dining, and 258 residential units. Currently undergoing revision for some of the office space.

Echo Bay at an estimated cost of $450 million including a hotle, 150,000 sq.ft. of office space and 704 housing units including apartments, town homes and condos. Under preliminary review.

Simone Project at an estimated cost of $225 million. The space includes 438 condos and 44,000 sq.ft of retail. Undergoing review.

TARRYTOWN:

Ferry Landing

Is currently under construction is and is supposed to contain a mixture of residential, retail and office space including nearly 200 residential units in the form of town houses and lofts. Part of the development includes a leg of Westchester’s ambitious “River Walk” and will connect to the portion of the Riverwalk at Ichabod’s Landing in neighboring Sleepy Hollow which I described in a previous blog.

SLEEPY HOLLOW:

Lighthouse Landing which has been put on hold when the builder walked out of discussions. This has been a legal battle that I have discussed previously.

CHAPPAQUA:

Chappaqua Crossing on the Reader’s Digest property at an estimated cost of $200 million is to include 278 condos and over 500,000 sq.ft. of office space. Currently under preliminary review.

OSSINING:

Harbor Square at an estimated cost of $75 million. The space includes 150 high-end residences and 10,000 sq.ft. of retail on water front property. Sales office under construction this year.

PEEKSKILL:

The Abbey at Fort Hill at an estimated cost of $100 million which includes 136 residential units. This project will come before the planning board this month.

Much of the material for this post was derived from “Big plans ‘change with the times:’ Builders amend projects, hope to ride out the effects of current crisis” by Jerry Gleeson, The Journal News, June, 1, 2008.

Why do I have this slab of granite featured in my blog? It’s just a slab of granite…..Why all the fuss…?

It’s a loooooong story. But I’ll give you the short version.

As you can see, the slab of granite has “The Ritz Carlton” engraved on it – and as such, the slab is there because Mr. Cappelli (who built the Ritz Carlton) wants it there. In fact he put it there. But you can also see that said granite is located on a road median. Therein lies the problem. It is located on the median of a PUBLIC road.

This piece of granite has been the center of a controversy that has turned local public meetings at City Hall into City Brawl. The mayor wants to be able to sell the traffic island to Cappelli and indemnify the city against any liability the granite imposes. The council are concerned that this sets a precedent which is not good.

Not only did Cappelli refuse to take down the sign, he threatened to film any crew from the city that attempted to remove the sign and show the film to developers as a warning not to submit any building proposals in White Plains. Later he went to Westchester Supreme Court to prevent the city for removing the slab.

Comical as this may seem, there is a precedent to be concerned with. Once one business is allowed to put signage (without prior permission) into road medians – how many more would follow. Looking at the long highway median along Mamaroneck Ave.– it is quite possible that it would literally be overwhelmed by business signage. I’m sure the White Plains Beautification Foundation would be thrilled that all their hard work on the 2.5 mile stretch on the Mamaroneck Ave. and Bloomingdale Rd. highway medians could easily be littered with signage from local business who would probably develop a “me too” mentality.

Meanwhile, with all this time and energy being spent on the famous “sign” – there has been NO FURTHER PROGRESS for the affordable housing that Mr. Cappelli promised to build. Mr. Cappelli appears to have a very a misplaced sense of priorities. Way too much time expense and resources have been spent over a this slab of granite. The agreement was that the affordable housing was to be built BEFORE either tower opened. The city council graciously allowed the first tower to open, but given their stand on the granite slab, they are probably in no mood to let the second tower open until the affordable housing is complete. I will say again what I said before: Mr. Cappelli, quit your whining about signs, and all the other insults you feel the city council and the people of White Plains have heaped upon you, and BUILD THE AFFORDABLE HOUSING!!! The clock is ticking on the second tower of the Ritz Carlton. It is supposed to open in August. Tick-tock, tick-tock.

How would this Look if it was littered with signs????

For Manhattanites, Westchester has always seemed to be some sort of backwater destination. But with prices in NYC soaring to crazy heights, many city dwellers are taking a second and third look at White Plains, NY - and with good reason. Downtown White Plains is booming where high-end shopping and entertainment are the order of the day. Many diehard New Yorkers are discovering that White Plains has almost as much to offer as Manhattan at a much better price point. With Manhattan only a 33 minute train trip, White Plains allows the most ardent New Yorker to feel at home while being just a short train ride away from Midtown Manhattan.

To that end, one of Manhattan’s most distinctive dining attractions, Via Quadronno, has opened its doors in White Plains at the corner of Renaissance Square and Main Street – next door to two 42 story towers that are the Ritz Carlton. The location in the famous Art Nouveau Barr Building provides an interesting background standing next to the mirrored glass and sleek steel of the Ritz Carlton. That mix of old and new is very typical of the "new" White Plains.

The restaurant offers breakfast, lunch and dinner. The fare is distinctly Italian and includes their famous panini sandwiches, espresso, a wide variety of coffee drinks and ice creams. Via Quadronno adds White Plains, NY to its very select group of markets that includes the upper east side of Manhattan, Tokyo, Hong Kong and Miami.

The restaurant is open from 8 AM on weekdays with the kitchen closing at 10:30 PM. On the weekends, the hours are 9 AM to 11:30 PM. Indoor dining seats 80 while the outdoor dining area pictured below seats 60 additional patrons during the warmer weather. Reservations can be made on-line at www.opentable.com.

Ichabod’s Landing is name after Ichabod Crane, Washington Irving’s famous character from the “Legend of Sleepy Hollow.” This is relatively new construction that was only available for purchase in 2004. Most notably the complex sits right on the Hudson River, literally steps from a swath of the Hudson River Walk that is under construction and will eventually run from the tip of Westchester county (at the Putnam border) to the border of New York City in the South (from Peekskill to Yonkers.) The views from the River Walk are spectacular and I have a few pictures of the area immediately surrounding Ichabod’s Landing. What a dramatic walk to have steps from your front door!

The complex itself consists of town houses that are three stories high. Some boast of roof top decks and gardens along with two balconies and often , a ground floor patio – some of which are literally flow out to the River Walk and the Hudson River. Everything here is top of the line, with granite kitchens, hard wood floors, berber carpeting, gas fireplaces in the living rooms, alarm systems, central air, with private driveways and garages. Commuting is easy – you can walk to the train or take a short drive.

Cost of Living:

All of this comes at a price of course. Recent sales have a wide range from $732.5k for a little over 2000 sq. ft. with 3 BR and 2.1 baths to $1.6 million for nearly 3500 sq.ft. and 4 BR/ 3.1 BA. The taxes range from roughly $13,300 for 2100 sq.ft. to $27,900 for 3500 sq.ft. This does not include the STAR deduction of approximately $2100 a year. The monthly fees range from $325 to $455. So excluding mortgage and including tax benefits and STAR, the cost to living could range from $997 a month for roughly 2100 sq.ft. to about $2000 a month for the high end units.

Pet-Friendly Status:

There are no restrictions on pets.

Early this evening I took Jade and Tundra on a trail that I don't take very often...The Tarrytown Lakes. It's a short flat trail perfect for a casual stroll or vigorous walk. It is paved and many local residents bike, walk or job this trail quite frequently. It appears to be a favorite for joggers as the hills are minimal. The walk begins (or ends) at Saw Mill Road just off the Saw Mill River Parkway and ends (or begins) right at the edge of the Marymount College entrence. It is a quiet walk where you don't hear the whiz of traffic on the other side of the lakes (reservoirs.) For those who want an "easy trail" with few surprises, this is an excellent walk to take.