Westchester County Business Journal 083115

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4 | DEALS AUGUST 31, 2015 | VOL. 51, No. 35

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS

11 | HUDSON RAIL westfaironline.com

New Rochelle unveils sweeping downtown action plan BY EVAN FALLOR evan@Westfairinc.com

N RECREATION WITH PERKS

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General manager Adam Law, left, and theater concierge Mike Burrows work a matinee at the Alamo Drafthouse in Yonkers. Photo by Reece Alvarez

ew Rochelle city officials and its private master developer have released a recommended action plan for what would be the largest mixed-use redevelopment project undertaken in the community’s 327-year history. The plan, prepared by the city’s master developer, RDRXR Realty LLC, calls for a mix of housing options, retail, commercial, office and hotel space as well as community facilities. Planners also proposed building a rooftop recreation facility above the New Rochelle Transit Center garage at Station Place. The project, which New Rochelle officials called the larg-

est economic initiative in city history, also calls for a new library, a cultural arts center, a winter garden atrium and an outdoor amphitheater at a planned city center at Ruby Dee Park. RDRXR — comprised of two Long Island-based companies, RXR Realty LLC and Renaissance Downtowns — broke New Rochelle’s downtown area into six sections: Downtown Core, Downtown District, Gateway Transition Area, River Street Commercial District, Wellness District and North of Lincoln Street. Planners said there is potential to build 1,500 residential units in the Downtown Core as well as 200,000 square feet of retail space and 250,000 square feet of office space. In addition, parking » DOWNTOWN, page 6

Multidimensional entertainment center proposed for Peekskill BY EVAN FALLOR evan@Westfairinc.com

FOUR OF WESTCHESTER’S POWER PLAYERS are joining forces to reshape and revitalize a vacant but promising building along Peekskill’s waterfront. Diamond Properties co-owner William Diamond, Captain Lawrence Brewery founder Scott Vaccaro, Peekskill and New York City restaurateur Louis Lanza and Peekskill restaurant and gastropub owner John Sharp said Tuesday they plan to create a $6.5 million multi-purpose, family-friendly attraction on the former site of The Cove restaurant at the Charles Point Marina. The four met on the building’s second-floor patio recently to discuss and finalize plans that

would include a full-service seafood restaurant and catering company, a Captain Lawrence satellite brewery and on-site entertainment and recreation activities. Diamond acquired the waterfront lease at 5 John Walsh Blvd. last fall and quickly collaborated with his business partners to complete plans for what they hope will be a familyfriendly hub in northern Westchester. Diamond said he now controls three buildings on the 11-acre property; a 45,000-squarefoot space to be developed as the restaurant, brewery and entertainment complex; a 17,000-square-foot manufacturing building at the rear of the property; and a 3,200-squarefoot building. The manufacturing building will

not utilized in development, but Diamond said there is a possibility the smaller building may be expanded to hold a potential distillery. He hopes to have the property operational by next summer. “Our goal is that the marina will become a major destination for weddings, social and corporate events, birthday parties, Bar Mitzvahas and, of course, families and groups of friends just looking to drink terrific beer on the waterfront during a sunny day in the spring or summer,” Diamond said. “We’re creating a familyfriendly destination for the surrounding towns that will hopefully become an institution.” Diamond Properties, based in Mount Kisco, » PEEKSKILL, page 6


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