"Twin, 14-story apartment buildings at 327 and 339 Huguenot St. with a total of 285 units. The two buildings will be connected by a pedestrian bridge and have retail space at street level." (https://www.lohud.com/story/news/local/westchester/new-rochelle/2019/03/01/new-rochelle-approves-new-residential-developments-downtown/3022719002/)
Retail Space: 13000 sqft
Planning Board Approval:
Full Property Tax: $29,000,000
Owner Savings: $11,000,000
PILOT (yrs): 20
Mortgage Tax Exemption: $600000
Fair Share Mitigation: $
Data Last Updated: 4/3/2019
*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 calculated 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.