NEW ROCHELLE, NY — A great deal on a new home in a desirable location could be in the cards for those who qualify and have a little bit of good luck on their side.
WBP Development and L+M Development Partners announced that there are 126 new chances for fair and affordable homeownership at Rose on Main, located at 455 Main Street in New Rochelle, and applications for the lottery are now being accepted.
"Fairness and transparency are central to the lottery process," added Andrew Smith, Deputy Executive Director of Westchester Residential Opportunities (WRO). "Our goal is to ensure that every eligible household has a clear and equitable opportunity to apply."
And there is help available to make that process less onerous.
"Housing Action Council is committed to guiding applicants through every step of the process from education to financing," said Chance Mullen, Executive Director of the Housing Action Council. "This development is especially meaningful as it carries forward Rose Noonan's mission of expanding access to homeownership."
The building is named in honor of Rosemarie "Rose" Noonan, longtime Executive Director of Housing Action Council, whose decades of leadership helped expand access to safe, high-quality, affordable housing across the Hudson Valley.
The announcement was made along with partners NYS Homes and Community Renewal, the City of New Rochelle, Westchester County, Housing Action Council, Community Preservation Corporation, JP Morgan, Chase, UnitedHealth Group, Interfaith Dwellings Corp of New Rochelle, Empire State Development (ESD), and Westchester Residential Opportunities.
The brand-new, 17-story, fully electric building with modern finishes and amenities has 14 studios, 57 one-bedrooms, 41 two-bedrooms, and 14 three-bedrooms available for sale for those who meet certain income restrictions.
The developers say that Rose on Main will "provide a realistic path to homeownership for mixed-income households like teachers, healthcare workers, first responders, municipal employees, young professionals, and retirees." The opportunity is open to qualified buyers across the area and beyond, including those who own businesses in New Rochelle. Up to 20 percent of the condos will be set aside with initial preference given to those who work or live in New Rochelle as well as employees of Westchester County. Additional preferences will apply for households impacted by Hurricane Ida.
"We've reached a point where many people who work in Westchester every day don't see a path to homeownership. Rose on Main is designed to change that," said James Wendling, Chief Operating Officer of WBP Development. "New Rochelle has taken a leadership role in tackling this challenge, creating the kind of environment where developments like this can happen. These are homes that are financially attainable, but they're also well-designed and include the modern amenities people expect today so buyers aren't forced to choose between affordability and quality of life. Naming this building after Rose Noonan reflects the impact she had in making that kind of access possible."
Amenities in the new, all-affordable building include a gym, a lounge, a library, bike storage, pet-friendly amenities, an expansive landscaped rooftop terrace, and accessory storage space available. Each unit has a washer/dryer, quartz countertops, stainless steel appliances, and energy-efficient heating/cooling systems. Seven units are adapted for mobility disability, while three units are adapted for hearing/vision disability.
"Homeownership is one of the most powerful ways families can build stability, opportunity, and a future for the next generation," said Yadira Ramos-Herbert, Mayor of the City of New Rochelle. "I know how important it is for families to have a place where they can put down roots and connect with their community. Rose on Main creates that opportunity right in the heart of this incredible city, with access to our parks, local businesses, transit, and the experiences and amenities that make New Rochelle so vibrant. This is about allowing more community members to stay in the city they call home while inviting new residents and families to put down roots in our great community."
The building, located near the Metro-North/Amtrak station, also includes 3,900 square feet of retail space.
The sale price for a studio is estimated to be $353,986. The occupancy for the studio is one person.
The sale price for a one-bedroom unit ranges from $357,811 to $381,981, with an occupancy of one to three people.
The sale price for a two-bedroom unit ranges from $383,932 to $395,256, with an occupancy of two to five people.
The sale price for a three-bedroom unit is estimated to be $408,194 to $409,377, with an occupancy of three to seven people.
The condos are available to those with a household income below 100 percent of the average monthly income in the region. In order to qualify, the household sizes and maximum incomes are as follows:
In addition, there is an asset limit of $159,497 for studios, $160,703 to $166,745 for one-bedrooms, $167,233 to $170,064 for two-bedrooms, and $173,298 to $173,594 for three-bedrooms, which does not include qualified retirement and educational savings accounts.
Rose on Main is zoned to the City of New Rochelle School District.
"Homeownership has long been part of the promise of building a stable future, but for many people today, that promise feels further away than ever. Rose on Main is an important step toward changing that reality," said Westchester County Executive Ken Jenkins. "This development gives working households an opportunity to put down roots in a thriving downtown community while honoring the legacy of Rose Noonan, whose work helped expand housing opportunity for so many people throughout Westchester. My administration is proud to support a project that reflects both progress and purpose."
The application and photos of the property can be found here. Completed applications are due September 9, 2026, at 4 p.m. Applications received after that date will be waitlisted. Sending more than one application may disqualify you. The lottery will take place on September 24, 2026, at 11 a.m. Move-ins are expected in March 2027.
For additional information, contact Westchester Residential Opportunities at 914-428-4519 or email this address.
Sign up for free local newsletters and alerts for the
New Rochelle, NY Patch
Patch.com is the nationwide leader in hyperlocal news.
Visit Patch.com to find your town today.