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Starwood Capital Plans MXU Development in South Bronx Opportunity Zone
Miami-based Starwood Capital Group plans to develop a 147,000-square-foot mixed-use facility in a designated Opportunity Zone in the Bronx, NY. The 10-story development, located at 425 Westchester Ave., will be anchored by a PK-8 charter school and include office space for a non-profit organization as well as ground floor retail. Construction is expected to begin this month.
The project is envisioned as a high-quality school featuring modern finishes, state-of-the-art classrooms and double-height recreational gym space. The facility will help meet the historically high charter school demand in the Bronx. The property’s unique elements include floor-to-ceiling windows, open plan offices and more than 11,000 square feet of outdoor space.
Starwood Capital Group’s Anthony Balestrieri says, “The Bronx is New York City’s fastest-growing borough, and we see continued opportunity to help bring new investment in the services, schools, office space and retail that have long contributed to the Bronx being such a vibrant community.”
For comments, questions or concerns, please contact Dennis Kaiser
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