Construction is underway on a new active adult residential community in Yorktown.
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AMS Acquisitions, based in Fort Lee, New Jersey, has begun work on Sylvan Woods Yorktown at 800 E. Main St. in Yorktown. The development will provide housing for adults 55 and older and marks a significant redevelopment of a long-vacant commercial site.
The property previously housed The Blue Book Network, a construction industry publishing company. Two vacant office buildings totaling approximately 63,000 square feet are being demolished to make way for the new residential community.
The project will feature 74 one-bedroom and 106 two-bedroom apartments, for a total of 180 units. Planned amenities include a great room, multiple resident lounges, a game room, fitness center, movement studio, spa with steam and sauna rooms, swimming pool, courtyard with BBQ area, sports courts and natural walking trails.
AMS expects construction to be completed in the second half of next year.
The development plan evolved during the environmental review process. The company initially proposed 250 apartments and townhomes, but officials determined that a smaller, 180-unit design limited to previously disturbed portions of the site was preferable.
The revised plan preserves 26 acres of open space — more than 70% of the property — maintaining significant natural areas while concentrating development.
“The community is nestled on a private hilltop that sits at the confluence of the Taconic and Route 6,” said Ari Mitnick, director of acquisitions for AMS. “The location and resort like lifestyle will offer an unparalleled experience for downsizers in Westchester and the greater region.”
Sylvan Woods Yorktown will join AMS’ growing portfolio of active adult communities. The company already operates Sylvan Woods Westchester at 275 Craft Lane in the Village of Buchanan, a five-story, 148-unit building for residents 55 and older.
Additional Sylvan Woods developments include a 100-unit property in Howell, New Jersey, and a 124-unit community in Evesham, New Jersey.
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AMS secured $50.5 million in construction financing from OceanFirst Bank for the Yorktown project. The loan was arranged by Morris Betesh, Alex Bailkin and Andrew Rosenberg of Arrow Real Estate Advisors.
“Yorktown is an affluent market in Westchester County with strong demographics but a constrained supply of active adult products due to high barriers to entry for new development,” said Betesh. “We are happy to assist on another transaction for a long-time client and look forward to their continued success as they scale their platform.”
With construction now underway, AMS is positioning the development to meet growing demand from downsizers seeking amenity-rich housing options in Westchester County, while balancing preservation of open space with new residential growth.
Originally reported by Peter Katz in West Fair Online.
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