Sunday’s New York Times real estate section featured an article about new construction projects as examples of optimism and pent up demand in the local housing market.
Monarch at Ridge Hill, which opens for pre-sale this week, was highlighted in the article. With virtually no advertising, albeit building signs, sales activity is indeed off to a positive start. There are nearly 100 appointments booked and the sales calendar is filled though July. It appears that prospective buyers are eager to learn more about Monarch, which is based on the tenets of New Urbanism.
New Urbanism features a mix of uses, including residential, retail, dining, entertainment, recreation and office establishments located within a single development to create a complete community. Residents have everything they need within a 5- to 10-minute walk from their home. Cars are not needed and walkability is promoted and encouraged to allow for a smaller carbon footprint, and authentic neighborhood atmosphere.
Monarch, a 162-unit condominium building, is located within the larger Westchester’s Ridge Hill, a 1.3 million square foot mixed-use development currently under construction on an 81-acre hilltop site between the New York Thruway and the Sprain Brook Parkway. Ridge Hill’s village will feature anchor stores Whole Foods and Cinema De Lux, an 18 screen movie theater. Other retail tenants include Sephora, L.L. Bean, The Cheesecake Factory and Ann Taylor Loft. Westchester Medical Group will also be a significant tenant at Ridge Hill.