Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RYE BROOK, NY-The last remaining piece of what developers had envisioned as an “intergenerational community,” was put in place on Wednesday when Sterling Glen Communities began construction on its $45-million active adult community here.

The project, called Stonegate at BelleFair, marks the completion of BelleFair at Rye Brook, a community of 250 single family homes built by Spectrum Skanska Inc. of Valhalla, which is sold out. The Stonegate at BelleFair development will feature 166 one- and two-bedroom units in an Old-Greenwich-style four-level building that will total approximately 170,000 sf.

The senior independent living facility will have access to the BelleFair at Rye Brook property via a wooden footbridge. Rents for the units, which range in size from 650 sf to 1,200 sf, will run between $3,000 to $7,000 per month. Five of the apartments will be affordable units that will be set-aside for income eligible tenants. At press time, a process in which to select the tenants for the affordable units had not been devised.

Carematrix had originally proposed the senior component of the BelleFair project, but Sterling Glen Communities stepped in after the Massachusetts-based firm filed for Chapter 11 bankruptcy protection last year.

“We are delighted to celebrate the start of construction of our newest active adult residence and our first in Westchester County,” said Michael Daly, president of Sterling Glen Communities. “As with all our communities, our goal at Stone Gate is to provide residents with the best quality of life; a residence that not only offers a wonderful place to live, but also a custom service package to meet both our residents’ practical desires, such as maintenance-free living, but also their social and cultural pursuits, such as golf or the opera.”

He later added that the synergy between the BelleFair at Rye Brook community and Stonegate at BelleFair “will create a truly unique multigenerational community.”

Daly said that construction on the project will run approximately $32 million. The overall cost of development, including land acquisition, will be approximately $45 million. The project will create approximately 250 construction jobs and another 45 permanent jobs once the facility is open.

Among some of the amenities that will be featured at the Stonegate at BelleFair facility are a full-service restaurant, cocktail lounge and bistro, hair salon/barber shop, fitness room and spa, movie theater and emergency response system connected to 24-hour on-site staff. Since residents will be members of the BelleFair homeowner’s organization, they will have access to the complex’s fitness center, outdoor/indoor pools, library, Village Green and Corner Store Market.

Sterling Gate Communities, a subsidiary of Forest City Enterprises of Cleveland, owns and operates 11 luxury senior living communities in the New York metro area, Pennsylvania and Connecticut.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.