Starwood Capital Group files Port Chester plan
Kicking off what is expected to be a lengthy project review by village officials and Port Chester residents, Starwood Capital Group has submitted a draft environmental impact statement for its roughly $300 million mixed-use redevelopment of the former United Hospital site on Boston Post Road.
- The former United Hospital in Port Chester.
First presented to Port Chester officials last spring, the Greenwich company”™s proposal includes 500 apartment units targeted for young professionals and 230 units restricted by age to seniors, 90,000 square-feet of boutique street-level retail and restaurants, a 135-room hotel and 217,000 square feet of office space with a portion designated for wellness-related use.
The development would include about 1,345 parking spaces and nearly an acre of publicly accessible open space.
Starwood Capital, a private investment firm in the global real estate market that manages more than $38 billion in assets, paid $28 million in bidding in 2006 to acquire the 15-acre property after United Hospital declared bankruptcy and closed in 2005.
A spokesman for Starwood Capital said the proposal reimagines the long-underused property 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 Port Chester board of trustees will review the draft environmental report and schedule public hearings and a public comment period on the developer”™s proposal. Port Chester Mayor Neil Pagano last spring estimated the environmental review process would take 18 months and extend to the end of 2015 before any construction could begin.
Barry Sternlicht, chairman and CEO of Starwood Capital, in a press release said, “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.”