“Third of seven planned luxury rental apartment buildings designed to transform a mini-neighborhood enclave in the heart of New Rochelle's downtown. This extraordinary six story project will feature 110 highly appointed studios, one and two bedroom apartments.” Millennianr.com

Project Data*

Building
Budget: $
Studios: 
1BR: 
2BR: 
3BR: 0
Affordable: 11
Total: 110
Parking: 146
Stories: 6
Retail Space:  sqft
Occupancy
Residents: 0
Students: 0
School: Lincoln

Jobs
Construction: 
Permanent FT: 
Permanent PT: 
Dates
Status: Construction phase

Planning Board Approval: 
IDA Approval: 
Constr. Start: 6/13/2017
Length: 14 months
Completion: 
Tax Incentives
"As Is" Tax: $2,122,375
Full Property Tax: $8,595,883
PILOT: $5,079,297
Owner Savings: $3,516,586
PILOT (yrs): 20

Mortgage Tax Exemption: $
Fair Share Mitigation: $148,258

Data Last Updated: 10/20/2018

*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.

Progress Gallery

11/3/2018


11/3/2018


10/27/2018


Adding the siding

9/14/2018


8/18/2018


8/18/2018


8/18/2018


8/11/2018


8/11/2018


7/20/2018


7/20/2018


7/20/2018


7/20/2018


7/16/2018


7/16/2018


7/16/2018


7/16/2018


7/14/2018


7/2/2018


5/27/2018


5/27/2018


4/6/2018


3/11/2018


3/11/2018


2/19/2018


2/19/2018


1/27/2018


1/27/2018


1/19/2018


1/19/2018


1/10/2018


1/10/2018


12/29/2017


12/2/2017


12/2/2017


11/12/2017


7/1/2016