NEW ROCHELLE, NY-AvalonBay Communities has begun construction on the second phase of its Avalon on the Sound high-rise residential development here. It will feature a 39-story building that will contain 588 rental apartment units ranging from studios to three-bedroom apartments. The 24-story first phase opened in 2001 and contains 412-rental apartments.
"When construction is fully under way, approximately 400 new construction jobs are expected to be created by this $180-million project," says Fred Harris, senior vice president of AvalonBay. Construction will take about two years to complete, company officials say.
Some of the amenities will include a residents' community center on the 39th floor, concierge service, a ground-level fitness center, swimming pool and an outdoor barbeque and picnic area. The development will also include a five-story parking garage and about 7,500 sf of retail space.
Phil Wharton, senior development director for AvalonBay, notes that since the first phase of Avalon on the Sound opened, other developers have announced plans or have begun construction on approximately 1,900 high-end residential units within blocks of the project site. "AvalonBay Communities is a national trend setter in urban residential construction and so we're flattered to be copied."
Near the Avalon site, Cappelli Enterprises of Valhalla has commenced construction on a mixed-use project with Donald Trump called Trump Plaza at the Parcel 1A site. In addition, the Cappelli firm hopes to break ground by mid 2006 on a mixed-use venture on Lawton Street. The two projects could total about $750 million in new development in the downtown district. The 39-story Trump Plaza project, which will cost between $50 million to $70 million to complete, will feature 181 condominium units and approximately 141,000 sf of retail space.
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