Larchmont, NY Rye-based developer Elk Homes unveiled plans for Centro Larchmont, a new condominium residence in the village. The project will enhance Larchmont as well as provide premier modern retail space, a new public pedestrian walkway and increased public parking as well as resident parking.
The new building will replace several aging commercial buildings that will be demolished. Located at 112 Chatsworth Ave. and 65 Wendt Ave., the 26-unit building will include 23 market rate and three affordable condominium residences ranging in size from 900 s/f to 3,500 s/f. Centro Larchmont will feature a lobby entrance and will include 5,000 s/f of modern retail space along Chatsworth Ave.
Designed by Perkins Eastman, Centro Larchmont is consistent with the scale of many of the historic and long-established multifamily and mixed-use buildings nearby. The building design reflects and incorporates many classic architectural elements significant within the Larchmont Central Business District.
The project will include redevelopment of the current Village parking lot on the north side of Wendt Avenue, rebuilt as a two-story parking structure. The expansion will provide 28 additional parking spaces, including four handicapped spaces – a 50% increase in lot capacity. The parking deck will be constructed and paid for by Elk Homes. An additional 54 parking spaces will be provided within Centro Larchmont to serve residents and merchants of the new building. Elk Homes will also provide and maintain a new ten-foot wide accessible pedestrian walkway from the parking lot to Chatsworth Avenue, making direct access to Chatsworth far easier for shoppers and residents.
The project will provide a substantial increase in the Village tax base with minimal impact on municipal services. Over the first ten years, estimated local taxes to be paid will be approximately $4 million, with approximately 60% going to the schools. Few, if any, school age children are expected in the building.
Centro Larchmont will be an attractive new housing option for residents looking to downsize but wishing to remain in the community. It will also generate new customers for existing retail, services and restaurants in Larchmont. The site is located near to the Larchmont Metro-North station as well as the Village’s fine retail stores and restaurants.
“Centro Larchmont is a bold step in the revitalization of the Village’s central business district. The project offers many benefits to the community with increased tax revenue for the schools and Village, additional parking for the Village and much-needed modern retail stores – and all with minimal impact on municipal services,” said Gary Hirsch, chairman of Elk Homes, a developer of single-family and multi-family housing.