Westchester Financial Center to be Redeveloped As Mixed Use
Ginsburg Development Companies, LLC (GDC), founded by Martin Ginsberg, has announced the acquisition of The Westchester Financial Center, a 571,000-square-foot office complex located on a square block between Main Street and Martine Avenue across from the White Plains Metro-North train station in White Plains.
The property was purchased by entities affiliated with principals of GDC and Robert Martin Company, LLC (RMC), the original developer of the property.
In announcing the acquisition, the new ownership said it plans to bring the property up to contemporary standards as a mixed-use development comprised of offices, retail shops, restaurants and residences. It will be rebranded as City Square.
The 15-story, 309,000-square foot office building at 50 Main Street will be renovated with a new lobby and an entire floor of amenities, including a fitness center, yoga studio, game room, lounge and business center. The café will be renovated and expanded to have indoor and outdoor dining. The lobby will be extended, and new art and sculpture displays will be added to enliven the interiors.
The main feature of the proposed complex is a unique two-acre central court which will feature a variety of attractions including a ¼-mile (2,000- step) “walk-around” which will go past landscaped areas, a water feature, sculptures, and different types of gathering places, including an outdoor lounge and sun deck. The garage will also be upgraded with new lighting and signage.
At 1-11 Martine Avenue, the 14-story, 262,000-square-foot office building will be converted into a mix of luxury residential apartments and office space, each with a new lobby and elevator banks.
Westchester Financial Center was built in the mid-1980s by Robert Martin Company as a three-building complex and was sold by RMC in 1997. The third building, The Metro, a 124-unit luxury apartment building was purchased separately by GDC in 2017. The complex occupies a full city block, bordered by Main Street, Martine Avenue, Bank Street and South Lexington Avenue.
“I have always admired this important gateway complex and so we are thrilled to be working with Robert Martin Company and its founder Bob Weinberg on this exciting project that will reinvent these iconic buildings as a key component of the new 24 hour live-work-play environment envisioned by the City of White Plains at its gateway and train station,” said Ginsburg. “Given its strategic location, we are confident that City Square will be Westchester County’s premier business address,” he added.
“Projects such as City Square align with the goals of the White Plains Transit District Strategic Plan, including activating the street with retail and restaurants, new residential units, improved pedestrian experience, placemaking, and proximity to mass transit. I am pleased to see it moving forward,” said White Plains Mayor Tom Roach when commenting on the project.
