The owners of the Rye Ridge Shopping Center in Rye Brook are nearing completion of a multimillion-dollar renovation designed to update the look of the plaza
The renovations include new storefronts and awnings, lighting, landscaping and improvements to the parking area as well as adding several new tenants, according to Win Ridge Realty L.L.C., which owns the property.
“This is an investment in the real estate,” said Erin Hinchey, leasing representative for Win Properties, a subsidiary of Win Ridge Realty. “It”™s a long-term commitment to this property.”
The Rye Ridge Shopping Center is a 220,000-square-foot neighborhood, mixed use, complex on Ridge Street in Rye Brook.
The complex features professional and medical offices and various retail stores.
The shopping center is divided into three parts: Rye Ridge, Rye South, and Rye Plaza. Retail tenants at the shopping center include smaller family-owned businesses and chain stores, such as Starbucks and specialty grocer D”™agostino.
“Together all three components cater to an affluent, educated, family oriented shopper,” Hinchey said.
The shopping center has been in existence since the 1960s and was bought in 1997 by Win Ridge Realty.
Hinchey said the owners always intended to renovate the property since it was purchased.
“They bought it with the idea it was a jewel in the rough,” she said. “It hadn”™t been renovated in twenty years. “
In addition to awning and façade renovations, other improvements include creating easier access and walkways between the three parts of the shopping plaza, and repaving the parking lots.
Rye Plaza, the portion of the shopping center behind the main entrance into the property, has been changed to a mixed-use facility comprised of professional and medical office space and new retail stores, said Hinchey.
Several new retail stores have moved in to that area over the last year, and there is space for three more, she said.
One of the first new tenants to move into the renovated Rye Plaza area were Shelly Belly/My Lilly Pad, which bills itself as one-stop shopping for maternity clothing, layette and children”™s clothing, accessories and gifts.
Rye Brook resident Laurie O”™Neal, who co-owns the store with Shelly Grossman, said being one of the first stores to move into the new area of the shopping center, while there were still renovations going on, was a leap of faith.
“We were brave,” said O”™Neal. “But it”™s definitely worked out. This is a great location for us.”
Last Licks will also be coming to the plaza, adding to their four established locations with a store planned for this spring.
The store, which is partnered with Steiner Sports memorabilia, offers scoops of ice cream along with sports memorabilia.
The additional retail availability is expected to be filled in 2008, Hinchey said.
Ownership of the shopping center believes the rejuvenation of the complex will solidify its place in the local market.
“We are focused on bringing the right balance of dining, premiere shopping and service retailers to Rye Ridge while representing a diverse mix of local, regional and national merchants that will ultimately enhance the entire market area” Craig D. Samson, senior vice president of Win Properties Inc., said in a statement.
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