Mixed-use, six story project with 65 affordable residential units with preference towards artists and 3,100 SF retail and 1,800 SF artist workshops. The developer is Allstate Ventures, LLC. Allstate Capital is based in Monroe, Orange County. The architect is Richard Bienenfeld.
- Monroe developer gets $29.3M tax break for New Rochelle residential towers (11/1/2021)
- $54M in tax exemptions for five projects (8/14/2019)
Retail Space: sqft
Planning Board Approval:
Full Property Tax: $
Owner Savings: $
Mortgage Tax Exemption: $
Fair Share Mitigation: $
Data Last Updated: 7/29/2021
*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.