“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
- What's up with? Construction at New Rochelle's Millennia on Burling Lane(6/4/2018)
- New Rochelle's Development Boom Not Limited To Downtown(2/7/2018)
- ELD Recruiting Millenials(12/14/2017)
- Millennia Breaks Ground (6/13/17)
- Six-Story, 110-Unit Residential Building Planned at 22 Burling Lane(8/8/16)
- The Millennia, for its namesake, planned for New Rochelle(8/4/16)
Retail Space: sqft
Planning Board Approval:
Constr. Start: 6/13/2017
Length: 14 months
Full Property Tax: $8,595,883
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.