Chappaqua Crossing gets zoning extension

The New Castle town board voted March 12 to grant Chappaqua Crossing and other multifamily planned developments unlimited six-month zoning extensions to get site plan approval from the town planning board.

Chappaqua Crossing is the only development in New Castle to be currently impacted by the new law.

Previously, developments only had a year, followed by two six-month extensions to get site plan approval from the planning board, or else the zoning would lapse. Chappaqua Crossing had exhausted its extensions. Its current extension expires Oct. 11.

Summit/Greenfield L.L.C., the developer of the property, recently dropped two lawsuits it had filed against the town in exchange for the creation of a retail zoning district that would allow the developer to put in a supermarket and other retail outlets.

Summit/Greenfield, a partnership of Summit Development L.L.C. and Greenfield Partners L.L.C., both real estate services and investment companies based in South Norwalk, Conn., bought the 114-acre property for $59 million from Reader”™s Digest Association in December 2004. They had initially proposed building 348 units of age-restricted condominiums and townhouses. The town eventually approved 111 units of condos and townhouses, 20 of which are affordable housing.