News Summary
White Oak Real Estate Capital has announced a $46.2 million loan for a new build-to-rent housing project in Tuxedo, NY. This initiative is part of Phase I of The Village at Tuxedo Reserve, which will add 93 rental units to the 1,200-acre community. As demand for multifamily housing grows, this project aims to cater to prospective residents with unique amenities and a focus on outdoor lifestyle.
White Oak Real Estate Capital Funds $46.2 Million Build-to-Rent Project in Tuxedo, NY
White Oak Real Estate Capital has announced a significant move in the construction landscape by providing a substantial loan of $46.2 million for a new build-to-rent housing initiative. This funding is targeted at a residential project located in Tuxedo, New York, a region situated along the New York-New Jersey border. This venture represents Phase I of The Village at Tuxedo Reserve, marking a notable step in the ongoing development of this expansive master-planned community.
Details of the Development
Phase I of The Village at Tuxedo Reserve aims to introduce 93 rental units to the already thriving 1,200-acre Tuxedo Reserve master plan. Anticipated to be completed by the fall of 2026, this phase is crucial for accommodating the increasing demand for rental housing in the area.
The development is part of a larger vision spearheaded by Related Companies, with Lennar Corporation serving as the master developer of the Tuxedo Reserve community. When fully realized, the Tuxedo Reserve project is expected to consist of approximately 1,300 residential units designed to serve a diverse population.
High Demand for Multifamily Housing
This project comes at a time of increasing demand for multifamily housing offerings, particularly in areas like Tuxedo that have been predominantly characterized by single-family homes. The overall landscape is shifting, with many seeking rental options in close proximity to urban hubs. Tuxedo’s location, just 45 miles north of Midtown Manhattan, significantly enhances the project’s appeal for potential residents.
Unique Amenities Await Residents
The Village at Tuxedo Reserve is anticipated to include between 300 to 400 rental units along with 43,000 square feet of commercial space, which is expected to draw strong interest from prospective tenants. Retail spaces integrated within the development will feature a range of amenities such as a high-end supermarket, spa services, a fitness gym, and diverse dining options. These features cater to the lifestyle needs of the community while fostering a vibrant atmosphere.
The project also aims to offer premium amenities to its residents, including resort-style pools and state-of-the-art fitness centers. Furthermore, the Tuxedo Reserve community is committed to emphasizing an outdoor lifestyle, boasting extensive trail networks that provide easy access to nature and recreational activities.
Innovative Urban Planning
In keeping with modern residential trends, the development will incorporate Lennar’s signature Everything’s Included® program, aimed at providing enhanced value for residents. The community is designed with a focus on quality of life achieved through innovative urban planning and targeted amenities, thereby cultivating a connected and engaged neighborhood.
Collaboration with Local Stakeholders
Ongoing construction efforts for mixed-use multifamily and retail spaces reflect a commitment to community engagement and growth. Developers are actively collaborating with local officials and stakeholders to bring their vision for Tuxedo Reserve to fruition.
Future Vision for Tuxedo Reserve
The Tuxedo Reserve initiative aspires to create a bustling town center that serves both the local community and visitors to nearby attractions. With a comprehensive approach to development, this project is poised to play a key role in enhancing the quality of life for current residents and newcomers alike.
As the landscape for rental housing evolves, The Village at Tuxedo Reserve is set to become a noteworthy addition, responding effectively to the demands of a changing demographic while enriching the local environment.
Deeper Dive: News & Info About This Topic
Additional Resources
- Rebusiness Online
- PR Newswire
- Commercial Observer
- New York Post
- Google Search: build-to-rent housing Tuxedo NY
Author: Construction FL News
FLORIDA STAFF WRITER The FLORIDA STAFF WRITER represents the experienced team at constructionflnews.com, your go-to source for actionable local news and information in Florida and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florida Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Florida and the Florida Home Builders Association, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Shutts & Bowen LLP. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
