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Crow Holdings and Marcus Partners Announce First Multifamily Development in New York

·5-min read

Partnership Between Crow Holdings’ Multifamily Development Business, Trammell Crow Residential, and Marcus Partners Targets Completed Construction of Alexan Harrison in 2024

DALLAS, October 21, 2021--(BUSINESS WIRE)--Crow Holdings, a leading national real estate investment and development firm, announced today that its multifamily development company, Trammell Crow Residential (TCR), has partnered with Boston-based Marcus Partners to develop Alexan Harrison, a 450-unit luxury multifamily residence in Harrison, New York. This latest community under the Alexan brand marks Crow Holdings’ and Marcus Partners’ first New York State multifamily project.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005717/en/

Alexan Harrison, a 450-unit luxury multifamily residence in Harrison, New York, began construction in August and is expected to be completed in April 2024. (Photo: Business Wire)

Alexan Harrison, a five-story wrap-style community, will consist of two buildings with distinct design aesthetics – one with urban characteristics and the other with a more country feel – as well as approximately 6,000 square feet of retail space between them. Each building will feature its own 10,000-square-foot clubhouse and resort-style pool area. Located at 3 Westchester Park Drive in New York’s Westchester County, the project began construction in August and is expected to be completed in April 2024. Alexan Harrison will offer market-rate and affordable units including studios, one-bedroom, two-bedroom, and three-bedroom layouts ranging from 507 to 2,135 square feet.

Each residence will feature modern open floorplans, nine-foot ceilings, stainless-steel appliances, granite countertops in kitchens and bathrooms, full-size washer/dryers, custom closets, tiled bath surrounds, hardwood flooring, and key-fob access. Select units will have private balconies and walk-in closets, and other select units will offer townhome-style direct entry to the community’s central drive.

First-class amenities include a speakeasy-style resident lounge, state-of-the-art fitness center, dog wash and parks, bike storage and maintenance rooms, half-mile walking trail around the property, game rooms, libraries, garden courtyard, rideshare waiting rooms, business offices with private office spaces, wellness center, conservatory, grilling stations, outside pizza ovens, and mail center, complete with Amazon parcel lockers.

Alexan Harrison is a short, 10-minute drive from the White Plains train station, which offers quick, direct service to Manhattan’s Grand Central Station. Residents will have access to employment and lifestyle amenities, including the nearby headquarters of PepsiCo, Mastercard, HistoGenetics, and other corporations. The property abuts a 206,000-square-foot Lifetime Fitness Center, and a Wegman’s grocery store is located next door.

"Our alliance with Marcus Partners is a collaborative effort that resulted in a strong community design," said Andy Huntoon, TCR’s Northeast Managing Director. "Alexan Harrison is our first foray into New York’s Westchester County – a proven market with a rich tradition of suburban life offering access to abundant corporate headquarters and an excellent school system. We are building something special here – a place that residents will be drawn to, with community and warmth in a vibrant and exciting area."

"Multifamily has become a critical part of our investment strategy, and it is ideal that Westchester County is home to our first multifamily development in New York," said Marcus Partners Principal David Fiore. "The collaboration between Trammell Crow Residential and Marcus Partners is yielding – without question – a best-in-class multifamily project in a prime residential market."

TCR has developed more than 865 luxury residential communities under its Alexan brand. In the Northeast, these include Alexan 3 North in Billerica, MA and Alexan Wrentham in Wrentham, MA. Alexan Kingston in Kingston, MA is under construction. Four additional Northeast projects with more than 1,000 apartments are currently in development.

With 11 regional offices, TCR is a market-leading developer of premier, amenity-rich multifamily communities that has delivered nearly 260,000 apartments over the span of 40 years. In addition to the Alexan brand of luxury apartment communities, TCR also builds attainable housing through its latest multifamily brand, Allora, aimed at delivering high-quality, affordable apartment homes to growing communities of middle-income families across the United States.

About Crow Holdings

Crow Holdings is a leading national real estate investment and development firm with a 70-year operating history and $22 billion of assets under management. With a strong track record of performance across property types and market cycles, Crow Holdings pursues unique investment opportunities through a range of strategies and risk-return profiles, creating value for its investors, partners, and communities. Operating from 17 offices across the U.S., Crow Holdings has extensive industry reach with expertise in multifamily, industrial, office, and specialty sectors, having developed or acquired more than 225 million square feet. Our founding principles of partnership, collaboration, and alignment of interests remain central to Crow Holdings today. For more information, please visit www.crowholdings.com.

About Marcus Partners

Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is based in Boston, with regional offices in Metro New York City and Metro Washington, D.C. The firm focuses on strategic and opportunistic investment strategies across multifamily, industrial, life science and other property types where it can create value and maximize risk-adjusted returns. Its current portfolio includes approximately seven million square feet of commercial real estate along the East Coast. For more information, please visit www.marcuspartners.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005717/en/

Contacts

Mendel Communications
Bill Mendel, 212-397-1030
bill@mendelcommunications.com

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