NEW ROCHELLE | Development News


#61

here’s a better look at “The Luxuria”

https://www.bisnow.com/new-york/news/neighborhood/new-rochelles-development-boom-84721

from the same article, apparently RXR and Fisher Brothers are partnering to develop yet another tower

[…]
RXR and Fisher Brothers, which paid a record price for the Bank of America plot downtown that it can build by-right up to 28 stories, have bought into the gold rush.


#62

(2-8-18) Photos from the ongoing demolition work at this site;

ELD Properties are already helping to improve the general area with their Burling Lane developments, but anything built here on Garden St. will push it even further. There’s a city owned parking lot across from this site which would also be great to build on, but I’m not sure if there’s any interest in it.


#63

RXR and Fisher Brothers, which paid a record price for the Bank of America plot downtown that it can build by-right up to 28 stories, have bought into the gold rush.


#64

now if only RXR can acquire the library and build a landmark tower for this whole revitalization.

Among other developments, 7 new highrises: 587 Main (28 fl), 45 Harrison (28 fl), the 2 Garage Towers (28 fl x 2), the 2nd La Rochelle Tower (25 fl), 251 North (14 fl) and now 277 North (28 fl). 26 Garden Street will likely be another - possibly taller.


#65

I have no idea what’s actually going on with 14 Lecount Pl anymore but it was initially configured to be a 14 story tower, but it seems to be canceled and now it’s replaced with something even larger…


(link)

Clearly, there’s no way you can fit all of that on that one parcel. If this is true, I’m assuming all of those smaller bits of property were also purchased or are going to be purchased to make room for this project. This is insane… in a very interesting way. If this is actually happening I can’t wait to see the planning board agenda!

Progress on the Church-Division project as well. It’s a very exciting time.


#66

NEW Rochelle seems to have more construction than WP or Stamford.


#67

For sure. WP has all of these projects lined up but I am unaware of the progress of most of them. Stamford has been very active lately from what I’m hearing, haven’t personally been there but it looks great.


Planning Board Agenda update
14 Lecount Place - Already discussed above. This is definitely one to watch. Two 27 story towers.
2 Hamilton Ave - Another mixed-use building, unaware of any details atm.
420 North Ave - I have heard about this being discussed last year at another meeting. It will be a low-rise project as zoning allows 8 stories & 85 ft max.

Link to agenda

.


#68

I think NR has more proposals and active projects than White Plains and Stamford combined. Once White Plains gets developers on board for its Transit Center that might change.


#69

Current “progress” pic of Cappelli’s project at 76 Lecount Pl. I wish there was some action here.

Here’s a shot at what’s going on with the V Hotel at 43 Church St. I believe they’re constructing forms in preparation for some concrete pouring.


2 Hamilton Ave and 420 North Ave were taken off of the 2/27 Planning Board agenda earlier today. No idea what’s going on with those, but I’ll report on it once there’s something to share. I’ll be sharing additional photos of 587 Main St. in it’s respective thread in a bit.


#72

The footprint of the Millennia is beginning to take shape. Completion estimated for January 2019:


#73

165 Huguenot St. - The Printhouse (2/28/18)


#74

Bisnow - Why Developers Are Banking On New Rochelle

(source)

In New Rochelle, one of the fastest-growing cities in New York state, there are 15 new developments underway right now. Officials want the community to look dramatically different within the next three or four years, but that means developers need to believe pumping money into the area is a sure bet.

RXR Realty is already banking on New Rochelle’s success, by taking on the role as master developer for the city’s $4B downtown revitalization plan. Other developers are planting their flag there too, and they explained the reasons why they think investing in the city will pay off at Bisnow’s New Rochelle event Wednesday.

RXR’s presence, the easy access to Manhattan, and the feeling the business community and local government are easy to work with are all major draws, they said.

“We think there’s a lot of things here that will attract people to the city itself,” said Wilder Balter Partners President Bill Balter, whose firm is working on 14 Lecount Place, a 1-acre site with two 27-story towers with 500 units in total. “When we were considering New Rochelle, I brought a lot of millennials to come and take a look… They walked around and loved the building stock, the streets and the feel of it.”

Twining Properties CEO Alex Twining said the general atmosphere in a location is extremely important. His firm is planning a project called Pratt Landing, which will be a 12.5-acre waterfront district in Echo Bay.

“It has the bones of a great city and a beautiful main street… everyone wants a great American main street, and you have that,” he said, adding that he is expecting Pratt Landing to revitalize the waterfront.

Allowing for walking and biking is essential, developers said, noting it is the key to attracting the two most important demographics for new rental apartments: millennials and empty nesters. But the ability to work with city officials is incredibly important, and something that can make or break a development.

“Everywhere else you go, even when people try and help you, they don’t help you very well,” said National Realty & Development Corp. Executive Vice President Jerry Bermingham, whose company is building WatermarkPointe, which features 72 condominiums across nine buildings on the waterfront.

Other places, Bermingham said, often establish regulations that stymie development.

“[It] makes it so difficult, that even though you are trying to make something happen which is in their own best interest, there is so much more uncertainty and it takes so much more time,” he said.

The city offers a zoning incentive that allows developers to build higher if they provide a community benefit. At RXR’s 28-story mixed-use building on the old Loew’s Theatre site at 587 Main St. in downtown New Rochelle, there will be a 10K SF black box theater.

With the incentive, RXR was able to create a 280-unit building instead of a 240-unit building, according to RXR Executive Vice President Seth Pinsky.

“It’s a great bargain because, as the developer, we were able to cover the costs of that art space and contribute it to the city,” he said.

But there is no denying a big name like RXR can do wonders for the ability to attract capital.

“It’s a major company with very deep pockets, [it has] a lot of partners nationally and internationally… they’ve chosen New Rochelle … and that attracts other capital,” HFF Senior Managing Director Jose Cruz said. “In the Tri-State Area, there is a lot of money out there, both equity and debt, for investment. But it is very selective where it goes, it’s not just a tidal wave that blankets New York.”

Twining likened New Rochelle to Long Island City, saying that when his firm first started working in the Queens neighborhood, few mainstream investors felt comfortable with the location.

“Two years ago, a lot of blue -chip folks did not want to play [in New Rochelle],” he said. “I think that’s changing. There’s enough now in place with major capital here that you can point to. It’s no longer ‘will something come?’"


#75

500 Main St | ? FT | 16 FLOORS

At 500 Main Street, a 16 story building with 243 apartments from BRP Development and Covenant Church, beginning construction in 2019

(source)

And even that’s not everything. There are still more projects under active discussion, not quite ripe just yet to be unveiled, but likely to come forward later this year or early next

New Rochelle is busy!


#76

the MILLENNIA in New Rochelle starts erecting steel

www.MillenniaNR.com


#77

a 6 story dorm is under construction at 30 Locust Avenue for Monroe College

http://dobanarchitecture.com/projects/30-locust-avenue


#78

City of New Rochelle and Master Developer RXR Realty break ground on new project, top out another

Source

Today, the City of New Rochelle joined its Master Developer, RXR Realty, to advance
a bold reinvention of its downtown core expected to ultimately attract $4 billion in new
investment.

First, city officials were joined by executives from RXR Realty to break ground on a new,
dual-28-story, mixed-use complex at the site of the Church Street-Division Street parking
garage at 26 South Division Street
.

The group then proceeded to 587 Main Street, where the public- and private-sector
partners together rose skyward to the roof above its 28th floor where they were joined by
members of the construction team and City stakeholders for a topping-out ceremony on
the building, for which ground had been broken only 16 months prior.

“The City of New Rochelle has invented a new and dynamic formula for downtown
development that’s worthy of emulation by cities nationwide,” said Michael Maturo,
President of RXR Realty. “All of us at RXR are gratified to have been selected at the
outset to help nurture this vision along its pathway to reality.”

“For too many years, our region’s suburban downtowns have failed to attract the level of
investment and economic activity needed to maximize their growth and economic
vitality,” said Seth Pinsky, an Executive Vice President at RXR. “Responding to this, the
City of New Rochelle developed a unique public-private partnership model that not only
allowed the city’s leaders and citizens to reimagine the future of their downtown on
paper, but to put into place a plan that is actually rapidly bearing fruit in reality. The City
deserves enormous credit for its thoughtful and forward-thinking approach.”

“With these two important milestones, New Rochelle is well on track to achieving our
community-guided vision for a vibrant, successful, diverse, and walkable downtown,”
said Mayor Noam Bramson. “RXR has been an outstanding partner, and these projects
are catalyzing the biggest wave of real estate investment in New Rochelle’s modern
history, with an emerging skyline that reflects a resurgent and hopeful confidence in our
future."

“The physical contours of tomorrow’s New Rochelle are revealing themselves before our
eyes,” said City Manager Charles B. Strome, III. “With the help and creative energy of
our private-sector partners at RXR, we’re excited to witness how the diverse elements of
the master plan are advancing at optimal speed.”

Following the 587 Main Street project, the Church-Division redevelopment is the second
project for RXR, the City’s Master Developer. It is located in the newly-created
Downtown Overlay Zoning District, which allows for approximately 6,370 new units of
residential housing and approximately 3 million square-feet of new commercial space.

The two towers of the Church-Division project – at an estimated project cost of $329
million – will offer 730 rental apartment units. The project’s total of approximately
904,000 square feet includes some 25,000 square feet of street level retail at the
buildings’ base as well as parking for 698 vehicles. The twin structures will replace the
aging, municipally-owned 388-space Church-Division parking garage
.

The project has completed schematic design and is currently seeking the necessary
planning approvals from the City of New Rochelle. RXR will begin demolition and site
work in March 2018 and anticipates securing all remaining necessary approvals for the
project in July. Vertical construction is anticipated for December 2018, with delivery of
the first tower in Q4 2020.

587 Main Street, at 28 stories, will contain 280 rental apartments, a tenth of which will be
priced at affordable rates
. The 391,000-square-foot structure, at an estimated project
cost of $122 million, will also feature a 10,000-square-foot performance space as well as
17,000 square feet of street-level retail space and a 294-space, structured valet parking
garage.

According to RXR, the two projects will generate over 1,000 construction jobs and, upon
completion, an estimated 350 permanent positions.

While RXR is playing a master-planning role in the overall initiative, 15 projects are
already underway by a spectrum of developers through the initiative
. The City has
implemented an unprecedented fast-track growth plan that guarantees developers
project approval in 90 days, an assurance unrivaled in the Tri-State area.

New Rochelle’s unprecedented redevelopment initiative, which launched in 2015 with
the signing of a Master Developer agreement with RXR Realty, allows for more than 12
million square feet of new construction including up to 2.4 million square feet of prime
office space
, one million square feet of retail, 6,370 housing units and 1,200 hotel rooms**.
On the residential side alone, more than 1,400 residential units are already underway.


#79

March Planning Board Agenda

14 Lecount Place - Already discussed before, but at last months meeting, it was only listed as a discussion item. It could very well be approved at the upcoming session, meaning we can see progress occurring quickly. Another dual tower setup, but with 27-stories.

255 Huguenot Street - This is a bit of an interesting subject as they’re looking to divide the current block and add a new street. This would require partial demolition of the current building already there. The second phase of the project would seek an additional tower, but I’m not sure if plans have changed. We’ll find out later this month…

26 South Division Street (Church-Division) - Seems to be heading to the board sooner than they anticipated, although it wont be voted on at this session. It’s listed as a discussion item only. We already know this is a dual 28-story project, but we will be able to see the preliminary plans finally.

2 Hamilton Avenue - Previously I had no idea what they were planning to do here but now we have a bit of info. I checked via the property portal and they’re looking to restore the historic facade of the current building and add four stories on top of it all to provide 56 housing units. Interesting proposal imo, even though it’s not anything crazy… we could use more variety along the North Ave corridor :slight_smile:


#80

I believe the partition of 255 Hugenot along with the new street was already approved, perhaps this subject is the new tower?

This week, the Planning Board also approved a subdivision and site plan to demolish part of the La Rochelle apartment building, which will allow the city to create a through street, to be called Shearwood Place, connecting Huguenot to Station Plaza South.


#81

Whoops, you’re totally right haha. I forgot they were already at the planning board for that. This should be for the tower or whatever else they’re proposing then.


#82

the V Hotel is officially under construction (43 Church)


New Rochelle Development

Steel up at The Millenia (22 Burling)


New Rochelle Development