Katherine Acre breaks ground on 170,000 s/f multifamily development in Port Chester

Port Chester, NY Katherine Acre Partners (Katherine Acre or KAP) celebrated the groundbreaking of 28 Pearl S., one of Port Chester’s newest residential developments. The project is a nine-story, 170,000 s/f multifamily building featuring 140 residential units (14 of which will be designated as affordable) with luxury, Class-A finishes, 100 self-park structured garage parking spaces, and an amenity package anchored by a penthouse clubroom and an expansive communal rooftop with grilling stations, gas fire pits, robust landscaping, and water views of the Long Island Sound. This milestone marks the first project to enter construction for Katherine Acre Partners, a new real estate development venture formed by Six Acre Capital and St. Katherine Group.

The groundbreaking brought together local officials, project partners, business leaders, and community stakeholders to celebrate this transformative mixed-use development in the downtown corridor. Developed by Katherine Acre in partnership with Fields Grade Development and Lightning Cove Properties, the $78.5 million project recently closed on its complete construction capitalization, anchored by a $52.5 million construction loan from a life insurance company and $26 million of institutional equity.

28 Pearl St. will include market-rate and workforce residences, structured garage parking, and convenient walking access to shopping, dining, entertainment, and regional transportation. The development is designed to support the area’s continued growth as a vibrant, connected live-work-play destination in Westchester County.

Officially formed in April 2026, and founded by seasoned Port Chester, New York-based developers Jake Borden and Nick Williams, Katherine Acre combines institutional real estate expertise, entrepreneurial execution, and a shared commitment to the communities in which they invest. This partnership was created to pursue transformative development opportunities throughout the region while maintaining a hyper-local focus on community impact and long-term value creation.

Collectively, the Katherine Acre leadership team brings decades of real estate experience spanning development, acquisitions, construction management, capital markets, and asset management. Throughout their careers, the principals have participated in the execution of billions of dollars of real estate debt and equity transactions and have been directly involved in the development, acquisition, and management of multifamily, mixed-use, office, and urban infill projects throughout the New York metropolitan area.

Jake Borden, founder and managing principal of Six Acre Capital, will be responsible for the execution of the venture’s development strategy, overseeing entitlement, deal structuring, construction/project management, and asset management from project inception through stabilization. Prior to founding Six Acre Capital in 2020, Borden held roles at JPMorgan Asset Management and Churchill Real Estate Holdings, where he participated in more than $4 billion of real estate debt and equity transactions and helped oversee large-scale development and operating portfolios throughout the New York metropolitan area.

“We have spent years independently building businesses, developing projects, and investing in communities throughout the region,” said Borden. “By combining our strengths under a single platform, we have created a development company capable of executing larger and more impactful projects while remaining deeply connected to the communities where we work. Port Chester isn’t just a market for us – it’s home. As residents, every investment we make reflects our conviction in the Village’s future and our commitment to helping shape that future responsibly. Katherine Acre was created with the belief that thoughtful, design-forward development can strengthen the community for residents, businesses, and future generations while delivering attractive opportunities for our investors.”

Nick Williams, founder and president of St. Katherine Group, will oversee sourcing, business development, capital formation, and investor relations. Since establishing St. Katherine Group in Port Chester in 2012, Williams has been an active participant in the Village’s evolution, partnering with local stakeholders to help introduce Form Based Code and identifying and advancing development opportunities that contribute to the community’s long-term growth and revitalization.

“Port Chester has experienced tremendous momentum over the past decade, and we believe its future remains incredibly bright,” said Williams. “Having operated in the Village for more than a decade, I’ve had the opportunity to witness that transformation firsthand. Katherine Acre allows us to pair local knowledge and relationships with institutional-quality execution, creating a platform uniquely positioned to help shape the next chapter of growth for Port Chester and the surrounding region.”

The Katherine Acre leadership team will also include Colvert Moore, who joins the organization as vice president, head of acquisitions & research. Moore has worked alongside Williams at St. Katherine Group for the past five years, where he played an integral role across all facets of the business. In his new role, Moore will lead acquisitions, market intelligence, feasibility analysis, and pipeline development efforts across the firm’s target markets.

In addition to 28 Pearl St., Katherine Acre Partners’ active development pipeline includes:

The Embassy – A planned eight-story, 375,000 s/f mixed-use development located at 128–156 North Main St. Structured as a public-private partnership with the Village of Port Chester, the project is expected to include approximately 250 residential units, 8,700 s/f of ground-floor retail space, and a 375-space structured parking facility, including 125 spaces dedicated to municipal and public use. The project received Site Plan Approval in May 2026 and is scheduled to break ground in Q1 2027.

Looking ahead, Katherine Acre intends to focus on transit-oriented multifamily, mixed-use, and urban infill opportunities throughout Westchester and Fairfield Counties. The firm’s strategy centers on identifying underutilized sites in walkable downtown environments and transforming them into vibrant developments that strengthen local economies and enhance quality of life.