White Plains to get 2 new apartment buildings

WHITE PLAINS – — The redevelopment of land surrounding the downtown transit hub took a big step forward Thursday with the announcement of a new project at 55 Bank St. that will include two 16-story apartment buildings.

It's good news for people looking for walk-to-train market-rate rental apartments. The site, currently a commuter parking lot, is just south of the train station.

The 760,000-square-foot complex will include 449 market-rate rental apartments, 112 affordable rental units, 6,300 square feet of retail space and a 570-space parking garage. Construction is expected to begin in March.

The Westchester County Industrial Development Agency has approved amendments allowing the $250 million project to move forward, County Executive Robert P. Astorino announced Thursday. It will create up to to 533 new construction and permanent jobs, he said.

LCOR, a Berwyn, Pa.-based real estate development and management company, acquired the Bank Street site from the White Plains Urban Renewal Agency. Nationally, LCOR has developed more than 21,000 residential units and more than 18 million square feet of commercial space.