$300 Million Mixed-Use Redevelopment of Former United Hospital Site by Starwood Capital Group Will Generate Jobs, Economic Activity and Public Benefits Port Chester, NY, January 5, 2015 – The decade-long effort to fulfill Port Chester’s vision for the former United Hospital site today reached a major milestone as the site’s owner, affiliates of Starwood Capital Group (“Starwood Capital”), submitted a Draft Environmental Impact Statement (DEIS) to the Village Board of Trustees to start of the public comment and review process.
Starwood Capital has proposed a mixed-use development that would cost roughly $300 million and include new retail, restaurants, a hotel, office space, residential units, publicly accessible open space and improvements to the network of roadways leading to the site.
The proposal reimagines the long-underutilized site as a bustling community anchor that will create a new pedestrian-friendly neighborhood within Port Chester at an important access point to the Village. The project was designed to achieve the objectives set forth in the Comprehensive Plan adopted by Port Chester in 2013 while also minimizing its impact on the local public schools.
The mixed-use development will complement Port Chester’s vibrant downtown with:
- 90,000 square-feet of boutique street-level retail and restaurants;
- A 135-room hotel;
- 217,000 square-feet of office space with a portion designated for wellness-related use;
- 500 units of residential designed for young professionals;
- 230 units of age-restricted senior residential;
- 1,345+ parking spaces; and
- Nearly an acre of publicly accessible open space.
The project is expected to generate substantial economic and community benefits by creating thousands of construction and permanent jobs, expanding the tax base, and funding much-needed public improvements beyond what is required including traffic mitigation on Boston Post Road.
“We share the Village’s goal of maximizing the redevelopment potential of this property in a way that is beneficial to the community and we look forward to a continued constructive dialogue with the Board, Village Staff and Port Chester residents in the coming months,” said Barry Sternlicht, Chairman and Chief Executive Officer of Starwood Capital. “We’re confident that, through the constructive efforts of all interested parties, the public review process will result in a project that the Village and the surrounding communities will embrace. This project has been an eyesore for too long and it’s time to agree on a resolution and put this project on the tax rolls.”
The Village Board of Trustees will now review the Draft Environmental Impact Statement (DEIS) before opening the document to public comment.
Media Contact: Tom Corsillo
The Marino Organization