Rose Associates Secures $182M in Financing to Complete Mixed-Use Redevelopment at 440 Hamilton Avenue in White Plains

Updated rendering of 440 Hamilton Avenue - Rose AssociatesUpdated rendering of 440 Hamilton Avenue - Rose Associates

Rose Associates recently closed on $182 million in construction financing to redevelop an existing 13-story office property for residential and retail use. The property is located at 440 Hamilton Avenue in White Plains, New York and will eventually comprise 255 apartments and 3,400 square feet of ground-floor retail.

Scope of development includes construction of a new seven-story building and a six-level parking garage designed to accommodate 575 vehicles. Additional amenity spaces will include an outdoor pool, communal lounge spaces, and a fitness center.

Since originally revealed by YIMBY in 2017, the facade of the building no longer features a glass-clad chevron design. A new simplified design features white and black cementitious materials, floor-to-ceiling windows outside the ground-floor retail component, and a typical punched window system above for the residential volume.

Previous rendering of 440 Hamilton Avenue

Previous rendering of 440 Hamilton Avenue

Updated rendering of 440 Hamilton Avenue - Rose Associates

Updated rendering of 440 Hamilton Avenue – Rose Associates

The financing package includes a $134.51 million senior construction loan from Pacific Western and a $47.4 million preferred equity investment from Square Mile Capital for a total injection of $181.91 million.

The project team has not revealed an updated construction timeline for the property.

Pre-developed conditions at 440 Hamilton Avenue - LoopNet

Pre-developed conditions at 440 Hamilton Avenue – LoopNet

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews

.

1 Comment on "Rose Associates Secures $182M in Financing to Complete Mixed-Use Redevelopment at 440 Hamilton Avenue in White Plains"

  1. Not as good as the previous rendering, but still a big improvement over what’s there.

Leave a comment

Your email address will not be published.


*