WPCNR REALTY REALITY. News and comment by John F. Bailey August 26, 2021:
Westfaironline reported Wednesday Montifiore White Plains Hospital has purchased the 4 acres of razed property that six years ago was approved by the White Plains Common Council for a major retail and housing complex .
The project to be built by Grid Properties was named “The Boulevard.” The property was acquired by the hospital for $38 Million. Westfair said that CB Richard Ellis, the commercial real estate broker had reported the sale of the planned project for the former Sholz Buick property to the hospital from Grid Properties and Gotham Properties.
The property acquistion raises the possibility that Montifiore-White Plains Hospital will expand on the 4 acres in some way– given the recent court decision that stymied The City of White Plains eminent domain effort to acquire properties on the north side of West Post Road adjacent the Winbrook complex. The rumored use was that White Plains Hospital would develop the properties if the city acquired them for offices and housing.
The hospital did purchase one of the properties on the south side of West Post Road on the corner of Lexington Avenue and West Post Road (across from the Sholz property).
White Plains Hospital at no time had indicated what they planned to build on the city-targeted property and neither had the City of White Plains, which was the legal reason why the eminent domain of 13 properties was denied by the court: no purpose was cited by the city.
The Montifiore acquisition now allows the hospital should they wish to expand down Post Road altering the aesthetic approach and atmosphere of the Fisher Hill neighborhood.
The acquisition by the nonprofit hospital removes 4 acres of property from the city tax rolls, where assessments have been flat in recent years.
The recent White Plains push to expand residential presence along Main Street and Post Road has seen three developments approved by the Common Council stymied because of lack of financing, a changing real estate demand bringing into question whether or not the retail sector is still enamored of mixed use residential and retail.
The rebuild of the White Plains Pavilion is still a large hole on Maple Avenue with a redisgn still being considered by Lennar properties.
The White Plains Mall mixed use retail is at a standstill because the Department of Motor Vehicles continues to occupy the site prior to a move to the former Fortunoff complex across from the Westchester. Negotiations on that lease by the DMV are now being conducted, if not already completely. However the developer of that White Plains Mall signature project still has to step in fully financed and ready to build.
The four city owned parcels adjacent the Metro North railroad station have still not attracted developer proposals to the city’s tastes, and that lynch pin start to the renaissance of Main Street is a mystery.
The Mitchell is perhaps half complete at this time on Mamaroneck Avenue and Post Road, and has resumed construction.
The YWCA reinvention is underway.
The 55 Main Street Continuum is built and leasing.
The Ginsberg Development Corporation project of turning One Main Strtet into a residential complex is moving along.
The Gateway II residential apartments across from the train station has been approved and start of construction is anticipated.
The building of two apartment complexes at the foot of Ferris Avenue has been approved and we await the start of those buildings. That project and the Gateway II project and the Ginsberg project depending on when they open will significanty busy-up Main Street considerably with vehicular traffic, and perhaps stimulate restaurant and and on-street retail perhaps within 2 years depending on how vast construction proceeds.
On Bloomingdale Road a senior living project The Waterstone is near completion across from Bloomingdales and an apartment project on Westchester Avenue has begun remediation preparing to build.