“Two new towers at the site of the Church-Division parking garage, a stone’s throw from Main Street. At 28 stories each, these towers will contain a combined total of 650 to 700 apartments, with about 40,000 square feet of new retail at the base, and parking to service both residential and commercial components” Noam Bramson State of the City 2018 speech by Mayor Bramson (3/1/18) "Our master developers at RXR will build their second project: two towers, each 28 stories, a total of about 700 apartments, with ground floor retail and restaurants, and a public plaza in between. This project was announced a few months ago … and in just two weeks – two weeks! – we will break ground."
- NR IDA 6/27/18 Meeting Minutes
- RM New Rochelle, RXR reach two construction milestones (3/15/18)
- Major Announcement Kicks Downtown Development Into High Gear (7/26/17)
- New Rochelle announces proposed major two-tower development (7/26/17)
Retail Space: sqft
Planning Board Approval: 4/23/2018
Constr. Start: 11/30/2017
Length: 22 months
Full Property Tax: $
Owner Savings: $
Mortgage Tax Exemption: $1129695
Fair Share Mitigation: $749,901
Data Last Updated: 11/7/2018
*Data listed here is subject to change. FOIL/FOIA requests are pending to obtain any missing data. Some of these numbers are estimated. Data comes from city documents.
** GLOSSARY TERMS: "As Is" taxes are the taxes of the property before development. Full Property Taxes are the taxes of the property after development. PILOT means Payment in Lieu of Taxes, which is less than full property taxes. Owner savings is the property tax abatement in dollars and as a percent of Full Property Taxes. PILOT length is the number of years that the PILOT is in effect. Fair Share Mitigation (FSM) fees are monies collected by the City from the developer to cover future infrastructure needs. The school system gets approximately 2/3 of the FSM fees.
*** Residents are calculated as follows: Studios = 1, 1BR = 1.5, 2BR = 3, 3BR = 4.5 (NDC formula) Students are calculted as follows: Studios (*0), 1BR (*0.014), 2BR (*0.141), 3BR (*0.213) (NDC formula)
*Data updating and collection is done by volunteers and may contain the occasional error or miscalculation.