By developer Main & Memorial Assemblage, LLC with Jonson Chen, partner, this 28 story, 351 unit mixed use building is on Main Street and Memorial Highway. It is composed of five parcels, including 525 Main Street (IB Cohen), 521 Main Street, 16 Memorial Highway (Alvin & Friends Restaurant), 12 Memorial Highway and 519 Main Street (Starlight Diner). It will have 274 parking spaces -- valet and stackers. The unit breakout is as follows: 31 studios, 268 1-bedroom, 46 2-bedroom, 6 3-bedroom units. There will be two duplexes on the 28th floor. The amenity floor will be on 5. There will be a swimming pool. It will have 10% affordable units in the building. The architect is Doban Architecture. The engineer is Langan Engineering. Architectural elements from the existing historic buildings, including decorative tile work, will be incorporated into the lobby. On the exterior of the building facing Veterans Memorial Plaza, there will be sections of planted green walls. The exterior of the building will have masonry detail, including brickwork. The building is designed to mitigate wind impacts.
Project Data*
Building
Studios: 31
1BR: 268
2BR: 46
3BR: 6
4BR:
Affordable:
Total: 369
Parking: 274
Stories: 28
Retail Space: sqft
Occupancy
Students: 14
School: Columbus
Jobs
Permanent FT:
Permanent PT:
Dates
Planning Board Approval:
IDA Approval:
Constr. Start:
Length:
Completion:
Tax Incentives
Full Property Tax: $
PILOT: $
Owner Savings: $
PILOT (yrs):
Mortgage Tax Exemption: $
Fair Share Mitigation: $
Data Last Updated: 2/16/2020
*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