28-story mixed-use tower at the former Loews Theater contains 280 apartments, a 277 space underground parking garage, 17,285 sf retail and 10,000 square foot black box performance center, called Community for the Arts (Black Box Theater Space,) which gave the developer a Community Benefit Bonus. RXR Realty. "The project ... will also preserve and restore the façade of an abandoned Loews Theater, and dedicate 10,000 square feet to a new black box theater. Nearly 8,000 square feet will be made available for retail use ... RXR Realty, Brause Realty, and ABS Partners Real Estate are the developers. Paulus, Sokolowski and Sartor (PS&S) is the architect." New York YIMBY (10/10/17)
- RXR sues construction manager, alleging shoddy work in New Rochelle (9/2/2022)
- RXR sues construction manager, alleging shoddy work in New Rochelle (9/2/2022)
- RXR secures $105M to refinance Westchester apartment building (6/9/2022)
- RXR dispute with Venezuelan arts group stalls cultural project in New Rochelle (3/8/2022)
- Salon Relocates to RXR Development in Downtown New Rochelle (11/10/2021)
- New Rochelle residential development opens with nearly 300 units (7/31/2019)
- RM New Rochelle, RXR reach two construction milestones (3/15/2018)
- RM Friedland named retail leasing agent (1/8/2018)
- Progress Steady At Site Of 28-Story New Rochelle High Rise Development (11/12/2017)
- New Rendering And Construction Update (10/10/2017)
- Groundbreaking a Precursor to Building Boom (12/1/2016)
- INAUGURAL GROUNDBREAKING (11/30/2016)
- RXR Breaks Ground (11/30/2016)
- Major Milestone Groundbreaking (11/30/2016)
- Project Design includes Replica of 1920's Marquee (6/3/2016)
- Tower evokes New Rochelle’s past (4/14/2016)
- New Rochelle overhaul could start with historic building (1/11/2016)
Zone: D0-2
Project Videos HERE
News
Progress Gallery
Project Data*
Building
Studios: 54
1BR: 125
2BR: 101
3BR: 0
4BR: 0
Affordable: 0
Total: 280
Parking: 298
Stories: 28
Retail Space: 16836 sqft
Occupancy
Students: 16
School: Columbus
Jobs
Permanent FT: 66
Permanent PT: 49
Dates
Planning Board Approval: 7/6/2018
IDA Approval: 9/21/2016
Constr. Start: 11/30/2016
Length: 26 months
Completion: 1/1/2019
Tax Incentives
Full Property Tax: $31,125,309
PILOT: $18,775,672
Owner Savings: $12,349,637
PILOT (yrs): 20
Mortgage Tax Exemption: $1015300
Fair Share Mitigation: $488,986
Data Last Updated: 12/24/2018
*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 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.
** New Rochelle Parking Code including Minimum number of Spaces