Progress Gallery

8/30/2020

8/30/2020

8/30/2020

8/30/2020

2/23/2020

2/23/2020

2/23/2020

2/23/2020

11/29/2019

11/29/2019

11/29/2019

11/29/2019

8/14/2019

8/14/2019

8/14/2019

8/14/2019

6/2/2019

6/2/2019

6/2/2019

4/13/2019

4/13/2019

4/13/2019

2/17/2019

1/6/2019

1/6/2019

1/6/2019

1/6/2019

12/2/2018

12/2/2018

11/3/2018

11/3/2018

9/14/2018

8/18/2018

7/8/2018

7/8/2018

7/8/2018

7/1/2016

Project Data*

Building
Budget: $18,033,751
Studios: 10
1BR: 55
2BR: 10
3BR: 0
4BR: 0
Affordable: 75
Total: 75
Parking: 80
Stories: 6
Retail Space: 1805 sqft
Occupancy
Residents: 150
Students: 3
School: Columbus

Jobs
Construction: 25
Permanent FT: 5
Permanent PT: 3
Dates
Status: Construction Start

Planning Board Approval: 3/17/2016
IDA Approval: 6/16/2016
Constr. Start: 7/1/2018
Length: 18
Completion: 1/1/2020
Tax Incentives
"As Is" Tax: $1,187,388
Full Property Tax: $10,897,872
PILOT: $4,161,061
Owner Savings: $6,736,811
PILOT (yrs): 30

Mortgage Tax Exemption: $136500
Fair Share Mitigation: $0

Data Last Updated: 11/27/2018

*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

** New Rochelle School District Street Directory (to see what school is assigned to each address in the city)