White Plains, LCOR, Break Ground at 55 Bank Street Development
After several years on hold and with a few design and site plan changes, LCOR’s $250 million, 760,000 sq. ft. mixed use project at 55 Bank St., White Plains, broke ground last Friday. It is being touted as the first major residential development project since 2009.
Located a block away from the White Plains train station, the development is transportation focused, featuring residential units with local retail and underground parking.
Phase 1 of the project, which kicked off last week, will include a 16-story, 288-unit residential building with 3,000 square feet of ground floor retail space and 381 parking spaces.
Phase 2 will consist of a 16-story building with 273 residential units, 3,350 square feet of retail space and a mix of above and below ground parking, providing 189 parking spaces.
The total of both Phase 1 and Phase 2 residential units, 561, will have 20 percent workforce (affordable) designated housing.
The City of White Plains created The Bank Street Redevelopment Area, which allowed LCOR to revitalize the northern portion of the designated area. Previously a municipal parking lot, LCOR purchased the land from White Plains
