Oster Properties has proposed revitalizing the largely vacant Yorktown Green shopping center that it owns by creating a new mixed-use project to enhance the site.
The property covers about 15 acres at 335 Downing Drive in the Yorktown Heights business district. The plan was unveiled at the Jan. 26 work session of the Yorktown Town Board.
Oster would demolish the defunct, 90,000-square-foot former Kmart store to make way for a four-story, U-shaped building featuring 84 one-bedroom and 66 two-bedroom rental apartments and ground-floor retail. There would be covered parking for residents as well as greenspace surrounded by the building”™s U-shape.
A freestanding former Food Emporium supermarket has been vacant for almost 10 years and Oster”™s representatives said they have an “exciting” tenant in lease negotiations for a supermarket.
“The concept of this is to provide alternatives to empty nesters or young millennials,” said Oster”™s attorney Darius Chafizadeh. “This would allow them to stay in town or young ones to come back into your town and live here and be able to afford it without having to pay high property taxes.”
He told the board that Oster was in the process of finalizing its application for the project.
“Throughout the retail world there”™s a rethinking of how retail spaces are designed to service the world,” said Matthew Jarmel, Oster”™s architect. “Not only do we plan to demolish the Kmart and build an apartment building, we propose to give all the retail buildings in the center a facelift.”
Jarmel said that tenant amenities would include a fitness center and personal storage lockers. He said that they envision the greenspace as “beautiful area outside with gazebos and benches and landscaping for people who are either living in the facility or maybe shopping or dining in the area to utilize. The intent is to wrap the ”˜U”™ on the sides, sort of somewhat symmetrical, with small retail tenants that have head-in parking.”
Jarmel said the project would incorporate green features with each apartment having its own energy-efficient HVAC system and energy-efficient windows. He said there is existing infrastructure that can be reused.
Jarmel said that by bringing residences into the retail center and creating a mixed-use development they”™re providing density.
“We”™re kind of gifting the commercial by providing density of housing and residential to service it,” Jarmel said. “So what happens is we have this great synergy of people living here, shopping here, eating here and vice-versa we have people from the rest of the community of Yorktown and surrounding areas coming here to shop. They can also use the plaza and visit people within the building as well.”
Jarmel said that marketing studies are being done to find the proper price points for the residences, including any affordable housing units.
Chafizadeh said that part of the concept of the project is to provide housing opportunities for empty nesters as well as young millennials without their having to pay high property taxes. He said the matter of providing workforce or affordable housing units will be addressed.
“We think this definitely will maintain the tax base and it likely will be even higher than it is now,” Chafizadeh said in response to a question from Councilman Vishnu Patel. “We haven”™t done a detailed study of the finances of the taxes but it will definitely maintain the tax base and given the number of apartments and the assessment issues we believe it will be at least the same if not more.”
Jarmel said that the Kmart has been empty for two years because of e-commerce.
“What we see as architects and as planners is that many retail centers and some very large shopping malls as well we”™re working on are being repositioned to become mixed use,” Jarmel said. “I can”™t identify the specific project but I have a project where a traditional shopping mall we”™re taking down ”” you know several anchor stores ”” and replacing it with multifamily housing. And the idea of it is that as our population is growing, and it is growing, the need for the traditional retail space is declining because of e-commerce.”
Oster Properties is based in Englewood Cliffs, New Jersey, and in addition to Yorktown Green owns more than 2 million square feet in northern New Jersey, Rockland County and New York City and manages about 500 apartment units. Oster”™s retail holdings include the Foster Village Shopping Center in Bergenfield, New Jersey.
Yorktown Supervisor Matt Slater had a positive initial reaction to the preliminary plan.
“This proposal recognizes the evolving economy that we are facing, especially e-commerce,” Slater said. “Yorktown Green has languished for too long and I look forward to seeing more details about Oster”™s proposal. It is a key property in many ways, not the least of which is its prominent location in the heart of town. This is very welcome news and yet another sign of the economic upswing we are working hard to see in our town.”
Councilwoman Alice Roker said, “I think this is a smart development both from a commercial and residential point of view.”
Councilman Ed Lachterman said that when they review a traffic study for the project they”™ll want to be sure that it takes into consideration any other projects in the area.
“I look forward to seeing this go through the planning and the whole process and see where it ends up,” Lachterman said. “I think it looks great so far and I”™d like to see where it goes.”
The town of Yorktown is in the process of finalizing the use of overlay zoning that would expand the types of development allowed in commercial districts. A Planned District Design Overlay Zone could be applied to the Yorktown Green.
