A Closer Look at New Rochelle's Massive Redevelopment
The Queen City of the Sound gets ready for its crowning moment.
RXR Realty’s 587 Main Street
Coutesy of RXR Realty
Get used to seeing cranes and bulldozers dotting the streets of downtown New Rochelle. Since partnering in 2014 with Long Island-based developer RXR Realty on a $4 billion master redevelopment plan for the downtown, the city has become a hotspot for mixed-use development projects, which are going up — and being proposed — in spades.
As part of the master plan, some 15 projects are currently underway by a handful of developers, thanks to the city’s fast-track growth plan, which guarantees developers project approval in 90 days. Overall, the redevelopment could comprise more than 12 million square feet of new construction, including 6,370 housing units.
26 S Division Street, rendering courtesy of RXR Realty
Leading the way is the $122 million, 28-story 587 Main Street, from RXR. Being erected on the site of the old Loew’s Theatre, the development will house 280 rental apartments (one-tenth of the units at below-market rates), plus 17,000 square feet of street-level commercial space and a 294-space parking garage. Officials recently held a topping-off ceremony for the project, slated for completion in late 2020. RXR is also developing 26 S Division Street, which broke ground in March. Taking the place of the eyesore that was the Church-Division Street parking garage, plans call for two 28-story towers with a combined 730 rental units, as well as 25,000 square feet of street-level retail and 698 parking spots. The 904,000 sq. ft. project carries a $329 million price tag.
14 LeCount, rendering courtesy of Wilder Balter Partners
Also in the pipeline are 14 LeCount, a project from Wilder Balter Partners of Elmsford that will house 500 units in two 27-story towers (groundbreaking is anticipated by year’s end); 500 Main, a 16-story project with 243 apartments being planned by BRP Development of New York City, beginning construction in 2019; and a project at 277 North Ave, just across from the train station, where Fisher Development is proposing a 28-story structure with more than 400 apartments.
Mount Vernon-based MacQuesten Development is also getting in on the New Ro action, with 45 Harrison, a $120-million mixed-use tower expected to be fully approved by the end of this year. It will include 238 apartments, 6,700 square feet of ground-floor retail space, and a four-story parking garage.