Station Lofts, A 180-Unit Downtown Residential Building Planned

PORT CHESTER, NY — More big changes are coming to downtown Port Chester. This time, in the form of a new residential building.

Hines, a global real estate investment manager, and Peakhill Equity Partners, a Toronto-based real estate investment manager, announced their joint venture to acquire and develop a 1.44-acre site in Port Chester to be known as the Station Lofts.

Station Lofts will be a 5-story, 180-unit, multifamily residential development, with studios, one-bedrooms and two-bedrooms, along with three levels of parking, including 50 spaces accessible and reserved for the public at ground level.

The property will be located a block away from the Metro-North Railroad Station.

"Station Lofts will enhance Port Chester's vibrant community and contribute to the demand for high-quality living options in the area," Grant Jaber, Managing Director of Hines, said. "The project’s proximity to transit and superb access to the surrounding neighborhoods make it an extremely attractive investment for Hines."

The village’s 2020 form-based rezoning initiative known as "Plan The Port" has led to new development activity focused in the village’s downtown, waterfront, and transit-adjacent locations.

"Peakhill is thrilled to partner with Hines, a first-class real estate firm with deep experience developing multifamily real estate across the U.S. Through our partnership, we're excited to play a role in the continued growth of Port Chester’s diverse and vibrant downtown," Jonah Belkin, Managing Director of Peakhill Equity Partners, said.

Construction on Station Lofts is expected to start in early 2025, with completion expected by 2027. Hines and Peakhill said they plan to capitalize the vertical construction in the second half of 2024 to align with the projected construction schedule.