Wilmot Lakeside Living

Located at 235-250 Wilmot Road, the property consists of 11 acres of currently vacant land bordering Eastchester and Scarsdale. The property is in a diverse residential neighborhood spanning over 550’ of frontage along Wilmot Road. It abuts Lake Innisfree in the rear and Iona Prep across the street. It is near the Scarsdale/Eastchester shopping center on Post Road.

The project is being Co-developed by KOSL, Related Companies and Atria Senior Living. Atria Senior Living will operate the community.

KOSL has been developing high end residencies throughout Westchester County for over 30 years. Based in Mamaroneck, KOSL has been recognized as one of the most respected and prestigious real estate developers with a diverse portfolio of over a hundred projects in various affluent areas such as Scarsdale, Larchmont and Rye. Focused on diligence and quality, KOSL has syndicated a top-tier team of national real estate companies with strong local ties to co-develop and operate this project to ensure a premium level of construction and operational integrity.

Atria Senior Living is the nation’s premier developer, owner and operator of senior living communities. Atria has 28 communities in the New York Metro Area including four in Westchester. With a high regard for quality care and accommodation, Atria is renowned as one of the most accountable operators in the Country.

Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States with over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of design, development, acquisitions, management, finance, hospitality, sustainability, and sales. Related’s mixed-use, residential and commercial office properties have been consistently heralded for their placemaking vision – bringing together iconic design, arts and culture, dynamic programming, and innovative wellness programs. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. Related was named to Fast Company Magazine’s list 50 Most Innovative Companies in the World.

The Silver Wave is coming! The Baby Boomer generation has started entering the Senior Housing Market with the first of the Baby Boomers turning 75 in 2020/2021. From 2020 to 2030, the number of people aged 75+ in the US will increase by 11 million people, an increase of nearly 50%. While the number of seniors is increasing significantly, shrinking family size and families living further from each other are increasing the difficulty of executing on one-on-one care solutions for seniors. In 2010, the ratio between potential caregivers (those aged 45-65) and seniors over 80 years of age exceeded 7:1 and by 2030 it’s expected to fall below 4:1. Over 25% of households in New Rochelle currently have senior residents and that number will follow a similar trend and increasingly difficult decisions over the next decade. Additionally, about 38,000+ 75+ year-olds live within 5-miles of the site with only 750 units of available senior housing.

The Wilmot Lakeside Living project will benefit from Atria’s vast experience in managing through the current pandemic and we will be able to proactively make design additions with newly created best practices including employee staging areas for quarantine situations. In addition, the project will utilize new and innovative technologies, including wearable technology, for contact tracing and symptom monitoring.

The property is currently zoned R1-20 single-family zone. The current zoning would permit up to 11 Single-Family homes on 20,000 sf parcels and a public road for accessibility and several utility runs. The property qualifies for the implementation of a Senior Citizen (SC) Overlay Zoning change by conforming to the underlying regulations and supplemental criteria consistent with the comprehensive plan.

SC Overlay Zone permits multifamily senior citizen development in underlying single/two/multi-family districts. The intent of establishing the SC Overlay Zone is to accommodate the growing elderly population who seek to remain in their local neighborhoods, but no longer want the hassle and burden of home ownership or maintenance, while freeing up existing housing stock for younger families. Among the various regulations for a site to be eligible for an SC Overlay, the primary criteria are a minimum of 5-acres permitting a maximum density of 40 units per acre and to be near a business district.

The SC Overlay was deemed appropriate to be implemented into the comprehensive plan across the City as opposed to designated districts for the purpose of being applicable to suitable properties throughout the City. The SC Overlay embodies the concept of Smart Growth by enhancing underutilized land by creating a diverse setting in a mixed-use environment in order to reduce lot coverage and sprawling density while increasing green space and communal benefits.

In general, assisted living has proven to generate the least amount of traffic when compared to other residential uses. Having most residents (if not all) being retired and employee shifts take place at off-peak travel hours, senior housing has minimal to no impact on existing peak traffic flows. In addition, the property has about 550 feet of frontage that spans along both sides of an existing stoplight where new entrances will be strategically placed to ease traffic flow and new sidewalks along the property line and crosswalks will be created to further enhance safety.

While there will be thick rows of evergreen trees around the perimeter of the property for year-round screening, the plan will include further enhanced noise reduction through sound absorbing products that will be strategically installed inside the property. In addition, because this community will be licensed, most emergency visits are executed through non-sirened EMTs with 911-called ambulances only a last resort.

Being that the site is 11 acres of vacant land, there will be no demolition conducted. The large footprint of the site permits enhanced setbacks from the street and neighboring properties coupled with a natural lower topography to further mask the building and eliminate any runoff to neighboring parcels. There will also be healthy perimeter screening year-round to create a secluded and unobtrusive environment and to provide neighbors with maximum privacy.

Being environmentally conscious, we recognize the importance of property care and maintaining the integrity of the communal lake where we are committed to routine upkeeping and safeguards to ensure its premium condition. Additionally, this project will investigate numerous supplemental eco-friendly features to see which align with design intent, such as LEED certified construction, pervious surfaces with tree pit biofilters, e-car charging stations, community solar sponsorship and new sidewalks/crosswalks in order to establish a sustainable clean energy community consistent with the GreeNR vision.

Property values in general are impacted by surrounding investment. Whether that relates to infrastructure improvement, new construction for positive comps or other means of improving the immediate neighborhood, existing property values increase as the community value increases. Due to the accommodative nature of residential senior living communities, the neighborhood is offered an alternative means for internal migration that efficiently enhances longevity and sustainability for a wide range of residents. While single-family homes only benefit individual families, senior housing provides benefits to numerous groups of people in various stages of need in conjunction with infrastructure improvement at the developer’s cost, significant employment opportunities and property tax appreciation. The intertwined benefits deriving from this niche usage bolsters community-wide enhancement thus elevating general property values.

• The ability for City residents to migrate locally and live within a brand-new forward-looking senior community.
• Creation of hundreds of jobs during development and substantial full-time staffing opportunities due to service-intensive model.
• Significant property tax increase for the City.
• Possible qualifying grant programs for the City.
• Construction of new privately financed, public-access sidewalks along frontage of property.
• Preservation of open space with significant tree replacement and supplemental screening.
• No school aged children; No peak traffic, No enrollment impact.
• Minimal municipal service impact.
• Potential value appreciation of surrounding property.
• Keen focus on minimizing City-wide carbon footprint by implementing environmentally friendly solutions.