Page 38 - Westchester County - 2018 Economic Development Guide

WESTCHESTER SMART REAL ESTATE
A RENEWED SENSE OF PURPOSE
To remain competitive in a new and continuously evolving global economy, Westchester’s real estate sector has discovered new uses for existing structures that address today’s market demands and business needs. With visionary thinking and creative zoning, new tenants are found once again – and structures gain new life. Here’s a sampling of notable repurposing projects in the area.
NEW LIFE FOR THE PLATINUM MILE
From the late 1960s to the mid-1980s, the Platinum Mile, situated along the Cross West- chester Expressway (Interstate 287), was a flourishing stretch of sparkling office parks housing Fortune 500 companies like IBM, Texaco and General Foods.
Now, decades later, this corridor is home to new and diverse entities.These new tenants include Time Life Fitness, which ac- quired the former offices of Gannet Subur- ban Newspapers, Fordham University and Memorial Sloan-Kettering Cancer Center.
Last year, in Harrison’s Platinum Mile, Toll Brothers broke ground on Carraway, a 421-unit, five-story luxury rental communi- ty featuring a club room, pool, bike lounge and a pet spa.
The latest milestone in the area’s trans- formation is Wegman’s proposal to build a supermarket plus a stand-alone building for a restaurant on a 20-acre site in Harrison.
WHITE PLAINS
Intended to promote more activity in the vicinity of North Broadway and Hamilton Avenue, the former AT&T office building at 440 Hamilton Ave. is being repurposed into amenity-filled luxury rental residence. American Equity Partners will add a floor to the 12-story 1960s building, as well as create new facades featuring “cascading glass ribbons.”
YONKERS
The Boyce Thompson Institute was built as a botanical research facility in the 1920’s
Top left, Boyce Thompson Center;
Above from top, Purchase Professional Park, River Tides at Greystone
to improve agriculture and environmental practices. The institute continued at the site until the 1970s, when it relocated to Ithaca, New York. The site was then used as office space. Vacant for nearly four decades, the main building has been restored to its origi- nal character and repurposed into an inno- vative 85,000 square foot mixed-use center featuring premier office and medical space, retail stores, and restaurants.
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WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE