Simone Development Companies has made new moves in both industrial and residential real estate in Westchester. It has completed the redevelopment of an industrial building in Mount Vernon that it acquired in September 2021 and, with Stagg Group, started construction on the residential phase of a project at 26 Garden St. in New Rochelle. A completed portion already houses Westchester County agencies, including New Rochelle Family Court and the Department of Probation.
The four-story Mount Vernon building is on a three-acre site at 250 E. Sandford Blvd. The property features 110,300 square feet of industrial/flex space along with 145 parking spaces and six loading docks. Renovations by Simone included a new exterior façade, new windows, new elevator, the addition of a front-loading dock and repaving.
“We saw this as a prime location for an industrial/flex building, which fits with our existing mix of commercial assets,” Joanna Simone told the Business Journals. “Many of Simone”™s buildings from the last five decades are industrial spaces that we still own in the portfolio today.” She is company principal and president of leasing and property management operations.
Simone said that the company”™s portfolio still includes its first building in Westchester, a 13,000-square-foot industrial building located at 535 S. Columbus Ave. in Mount Vernon, which was built by the late Pat Simone in the early 1970s. She expressed a belief that with the continued growth of e-commerce, there will always be a need for distribution space,
With respect to the impact of Covid and supply chain delays on the renovation project, Simone said, “We certainly faced our share of supply chain delays like everyone during these times. This impacted renovations ranging from the HVAC equipment to the elevator manufacturing and installation. On the bright side, these challenges make it especially gratifying once a project like this is complete.”
In New Rochelle, Simone Development Companies and Stagg Group have started construction on the 24-story residential phase of a project at 26 Garden St., where Westchester County already is using a six-story building they constructed. Simone and Stagg are working on the project as the entity MJ Garden Affordable Developer. The residential structure, West View Apartments, will contain 186 affordable housing units. The apartments will be for families whose income is at or below 60% of the area median income for Westchester County.
New York Gov. Kathy Hochul announced on Aug. 1 that the state would provide $80 million in financing for West View Apartments as part of its $682 million funding program to support affordable housing projects.
“We are extremely pleased to start the development of Phase 2 of this multifaceted project, providing affordable housing opportunities with convenient access to regional transportation options in the heart of New Rochelle,” said Joseph Simone, president of Simone Development Companies
There will be 34 studios, 96 one-bedroom units and 56 two-bedroom units. West View Apartments also will include a community room, gym, computer center, laundry facilities and parking. Among the sustainability features of the building are energy efficient appliances, low flow plumbing fixtures and LED light fixtures with motion sensors.
“We are excited to partner with Simone Development on another successful and important project,” said Mark Stagg, founder and CEO of Stagg Group. “First delivering a new state-of-the-art facility for the Westchester Family Courts, and now by adding much-needed affordable workforce housing, constructed to the highest standards.”
Plans call for there to be a Phase 3 of the development that would include an additional mixed-use building.
