Joint Venture to Develop 120,000-Square-Foot Retail Center in New York

Chappaqua, N.Y. — A joint venture between The Grossman Companies and Summit Development is set to break ground on Chappaqua Crossing, a 120,000-square-foot shopping center located in Chappaqua, New York.

Whole Foods Market will anchor the property, which will be home to tenants including Lifetime Fitness, Pet Valu, Chase Bank, AT&T and Go Health Urgent Care. The retail center will be part of a larger development, set to include 119 residential units and 200,000 square feet of medical and office space. Jeffrey Dunne, Kyle Juszczyszyn and David Gavin of CBRE arranged the joint venture, and secured $44 million in construction financing from M&T Bank.