$120-Mil Rental Housing/Hotel Project to Begin Soon

WHITE PLAINS-Officials with RMAP, a joint venture of Robert Martin Co., LCOR and Jack Parker Corp., report that it expects to begin construction on phase one of the $120 million hotel/rental apartment project at the “hole in the ground” site near the White Plains Transportation Center by this June. Robert Weinberg, managing partner of RMAP, and Peter Gilpatric, senior vice president of LCOR, spoke of the plans at a meeting of the Westchester County Board of Realtors’ Commercial Investment Division.

“We expect to break ground on this project (Bank Street Commons) by the end of June,” Gilpatric told the 50 attendees of the session. He added that the first phase will consist of 250 rental apartments and approximately 1,200 sf of retail space.

The development calls for the construction of two, 21-story towers that will feature 500 rental apartments, and up to a 200-room hotel that will total approximately 90,000 sf that will be housed in a third building. The project will have two levels of underground parking. The company hopes to have the first tenants of its rental apartments move in by early 2003.