White Oak Real Estate Capital Funds Major Build-to-Rent Project in Tuxedo, NY

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.

Major Loan Secured for New Build-to-Rent Project in Tuxedo, NY

White Oak Real Estate Capital has secured a $46.2 million construction loan for an exciting new residential development project in Tuxedo, New York. This funding will go toward a build-to-rent initiative located along the New York-New Jersey border in a region that is seeing a growing demand for modern rental properties.

Phase I of The Village at Tuxedo Reserve

The loan is specifically aimed at Phase I of The Village at Tuxedo Reserve, which is set to add 93 rental units to the vast, master-planned community of Tuxedo Reserve. This established development spans across 1,200 acres and aims to provide an attractive living environment to its residents. Phase I is on track for completion by fall 2026.

Development Team and Community Vision

The project is being spearheaded by Related Companies, while Lennar Corporation serves as the master developer of the larger Tuxedo Reserve community, which is ultimately planned to feature around 1,300 residences. The creation of The Village at Tuxedo Reserve intends to not just provide homes but to foster a vibrant community. The project will incorporate 300 to 400 rental units along with 43,000 square feet of commercial space, reflecting a commitment to blend residential and retail elements for community engagement.

Appeal of Location

The strategic location of this project—just 45 miles north of Midtown Manhattan—is highly appealing for potential residents. This area has a growing demand for multifamily housing, particularly as it has traditionally been dominated by single-family homes. Hence, the rental offerings are anticipated to be unique in this community, promising to attract significant interest from prospective residents.

Commercial Features and Amenities

The commercial aspect of The Village at Tuxedo Reserve will contribute to its allure, with plans for a high-end supermarket, a spa, a fitness gym, and a selection of restaurants. Each of these elements is carefully designed to enhance the quality of life for residents and visitors alike, creating a dynamic town center that caters to various needs.

Innovative Urban Planning

Innovative urban planning is at the core of the Tuxedo Reserve project, aiming to improve the quality of life for residents. The development will offer premium amenities such as resort-style pools and a state-of-the-art fitness center. Additionally, Tuxedo Reserve is focused on promoting an outdoor lifestyle, featuring extensive trail networks and access to the natural beauty surrounding the area.

Inclusion and Collaboration

The design of The Village at Tuxedo Reserve will incorporate Lennar’s signature Everything’s Included® program, enhancing the value for residents by providing high-quality features at no additional cost. This thoughtful approach is coupled with coordinated efforts involving local officials and stakeholders, ensuring that the development vision aligns with community interests and needs.

Current Construction Status

As construction moves forward for the mixed-use multifamily and retail spaces, the development is poised to become a hub for community activity and growth. Tuxedo Reserve aims to serve not just its residents but also to attract visitors, ultimately enhancing the lifestyle options available in the region.

Developers are optimistic that this project will address the pressing need for modern rental housing and will contribute positively to the local economy, making Tuxedo a desirable place to live and visit.

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Additional Resources

• Rebusiness Online
• PR Newswire
• Commercial Observer
• New York Post
• Google Search: build-to-rent housing Tuxedo NY