A new luxury development in Rye carrying the St. Regis brand name celebrated a groundbreaking. In fact, land clearing has been underway for some time at the 120 Old Post Road location along the Playland Parkway access road and the I-95 Exit 19.
The location used to be the headquarters for Mobius Management Systems, before it was acquired in 2007 and moved from the site. The developer, Alfred Weisman Real Estate in Harrison originally proposed a Hampton Inn on the site before that encountered local opposition.
A description by the developer:
"At The St. Regis Residences Rye, discover the unparalleled St. Regis lifestyle in Westchester County’s newest luxury residential development. Bespoke details greet residents at every turn, offered exclusively with a limited collection of spacious and exquisitely designed one to four bedroom condominiums. An oasis of signature amenities and services awaits, including a swimming pool and wellness complex, lounges and entertaining spaces, a fully enclosed parking garage and lushly landscaped gardens, walking paths and courtyards – all managed by St. Regis staff who will see to every detail."
When the Hampton Inn was rejected the new proposal centered around housing for empty nesters.
"The $100 million development, geared toward empty-nesters, will also be the world’s first St. Regis Residences property to operate without a hotel. It is expected to be completed by early 2020.
“This is really a transformative project for Rye and Westchester County," said Marsha Gordon, president and CEO of the Business Council of Westchester. "It shows that Rye is responding to changes in the market. People want high end places to live with great services and to remain in this community.”
Condo units available for purchase will range from one-to-four bedrooms across five three-to-four story buildings. Unit size will range between 1,000 and 3,000 square-feet. Listing prices have not yet been set by the developer.
Tenants will have a 24-hour lobby attendant, pool, gym, library, theater screening room, golf simulator, pet spa and charging stations for electric vehicles.
The site also includes 227 parking spaces, both in surface and underground lots.
The property has been vacant since 2011. Last spring, a former office building was torn down to make way for the 328,000 square-foot development…
Old Post Road Associates, a subsidiary of Rye's Alfred Weissman Real Estate, bought the Rye property in 1997 for $1.4 million. In 2012, after years of weak office-space demand, Weissman asked the city council to change the zoning district of the property from office to hotel in order to build a Hampton Inn. After community opposition, the plan was rescinded and a vote on the zoning change never took place."
If you want to live a swanky St. Regis life here in Rye, get your wallet out and sign up.