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WHITE PLAINS -- After completing an arduous three-year process to obtain approvals and financing, developers of The Westchester Pavilion are set to begin construction this week on the $40 million retail project at the former Alexander's store in downtown White Plains.
The project's owners recently obtained a building permit from the city and signed a financing agreement with FGH Realty Group of Holland.
The first phase of the project, totaling 175,000 square feet of space, will take about nine months to complete. The retail "power center" is scheduled to open next August.
The development, once proposed as an upscale retail center, will contain several discount retailers that the owners believe will attract bargain-conscious shoppers to the downtown district on the Post Road and Mamaroneck Avenue.
John Reese, a principal of Fischer Reese/White Plains Associates L.P., set the overall cost of the project at approximately $40 million, including $16.7 million paid to New York developer Donald Trump for the Alexander's parcel on the Post Road in 1989.
The project will bring five major retailers to White Plains, including K-Mart subsidiaries The Sports Authority (43,000 square feet), Office Max (25,750 square...