Hines, a leading real estate developer, has teamed up with Toronto-based investment manager Peakhill Equity Partners to acquire and develop a 1.44-acre site in Port Chester, Westchester County. The project will be known as Station Lofts and will feature a five-story Class A multifamily development with 180 units ranging from studios to two-bedroom homes. It will also include three levels of parking and amenities such as a residential lounge, co-working space, fitness center, bicycle storage, outdoor deck with grills,and environmentally sustainable features like a green roof and EV charging stations.
According to Grant Jaber of Hines,”Station Lofts is set to enhance the vibrant community of Port Chester while meeting the demand for high-quality living options in the area.” With its convenient location near transit and easy access to surrounding neighborhoods,this project is an attractive investment opportunity for Hines.
Construction on Station Lofts is expected to begin in early 2025and be completed by 2027.The joint venture plans on funding vertical construction during the second half of 2024to align with their projected timeline.
