140-Unit Pearl Street Residential Tower Breaks Ground In Port Chester

PORT CHESTER, NY — The face of Port Chester is changing, and a new project promises to bring new residential opportunities downtown.

Katherine Acre Partners is celebrating the groundbreaking of 28 Pearl Street, a nine-story multifamily development in Port Chester. The tower will have 140 residential units, including 14 affordable apartments.

Port Chester's newest residential development will also include 100 self-park structured garage parking spaces and a rooftop amenity area with grilling stations, gas fire pits, landscaping, and views of the Long Island Sound.

The development is being built in partnership with Fields Grade Development and Lightning Cove Properties. According to the developers, the $78.5 million project recently closed on its full construction capitalization, including a $52.5 million construction loan from a life insurance company and $26 million in institutional equity.

The building will total about 170,000 square feet.

Katherine Acre Partners said the project will include market-rate and workforce residences and will offer walking access to shopping, dining, entertainment, and regional transportation. The firm was officially formed in April 2026 by Six Acre Capital and St. Katherine Group. It is led by Port Chester-based developers Jake Borden and Nick Williams.

"We have spent years independently building businesses, developing projects, and investing in communities throughout the region," Borden said. "By combining our strengths under a single platform, we have created a development company capable of executing larger and more impactful projects while remaining deeply connected to the communities where we work. Port Chester isn't just a market for us – it's home. As residents, every investment we make reflects our conviction in the Village's future and our commitment to helping shape that future responsibly."

Williams said the village has seen major change over the last decade.

"Port Chester has experienced tremendous momentum over the past decade, and we believe its future remains incredibly bright," he said. "Having operated in the Village for more than a decade, I've had the opportunity to witness that transformation firsthand."

The company also said its projects "in the pipeline" include The Embassy, a planned eight-story mixed-use development at 128–156 North Main Street in Port Chester.

That project is expected to include about 250 residential units, 8,700 square feet of ground-floor retail space, and a 375-space structured parking facility, with 125 spaces dedicated to municipal and public use. The Embassy received site plan approval last month and is scheduled to break ground in the first quarter of 2027.