“It’s a 28-story residential 100% affordable housing project, 18 stories of residential units on top of 10 stories of parking. There’s two levels of below-grade parking as well,” Newman said. “On the ground floor we have approximately 2,500 square feet of retail divided amongst two areas. In addition, we’ll have a residential entrance obviously to the tower and we’ll provide a new commercial entrance for the current existing floors four and five, commercial floors, in Phase 1 that are currently vacant above the courthouse.”
- 28-story apartment building proposed for New Rochelle (10/7/2024)
Zone: D0-2
Project Videos HERE
News
Project Information
Project Data*
Building
Studios:
1BR:
2BR:
3BR:
4BR:
Affordable: 211
Total: 211
Parking: 320
Stories: 28
Retail Space: 2500 sqft
Occupancy
Students:
School: Columbus
Jobs
Permanent FT:
Permanent PT:
Dates
Planning Board Approval:
IDA Approval:
Constr. Start: 9/1/2025
Length:
Completion:
Tax Incentives
Full Property Tax: $
PILOT: $
Owner Savings: $
PILOT (yrs):
Mortgage Tax Exemption: $
Fair Share Mitigation: $
Data Last Updated: 10/16/2024
*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