Big Changes Coming to New Rochelle as Redevelopment Plan is Approved

If you haven’t heard, big changes are coming to downtown New Rochelle, and at this point they appear to be beneficial to taxpayers, property owners, renters, and developers. On December 8, 2015, the New Rochelle City Council unanimously approved a new zoning plan that paves the way for the most significant economic rebirth in the City’s historic downtown. The master plan calls for the revitalization of 11 acres of city-owned land around the train station, which serves both the Metro-North line out of Grand Central and Amtrak trains coming from Penn Station.After a year of research, planning, and community outreach led by the city and its master developer for downtown, RDRXR, the new plan permits construction of up to 990,000 square feet of new retail space, 1,805,000 square feet of new non-medical office space, 420,000 square feet of medical office space and 5,500 apartments, hundreds of which will be affordable housing.

Mayor Bramson said: “This innovative development framework positions our City for success, especially combined with New Rochelle’s core assets - unrivaled location and transit connections, a talented and diverse population, and great schools, libraries and neighborhoods.”The redevelopment plan doesn’t seem to put the burden on taxpayers and includes involvement and feedback from the community for inclusion of quality of life objectives such as a pedestrian mall, bike lanes, shuttle service, free Wi-Fi, and a concert venue.It’s also a fact that as rents continue to increase sharply in New York City, cities in Westchester that are within an easy train commute to Manhattan and offer less expensive housing will benefit. People who are fleeing high rent in New York are also drawn to walkable neighborhoods in cities like New Rochelle.

What does it all mean to you? If you are interested in living in the one of the upcoming “hot spots” in our area, working in a very accessible city, or opening a business in a thriving area, you need to stay informed about what’s going on in New Rochelle. The Michael/Edmond Team knows New Rochelle and we can show you the properties that fit your lifestyle and budget.

To contact us call Ed Albano at (954) 609-8688, or email Edalbano@kw.com,or call Michael Marciano at (914) 437-6292, or email marcianoteamkw@gmail.com.

There’s more information on the city’s website at:www.newrochelleny.com and you can visit nrfuture.com to “like,” comment on, and post your own ideas for the redevelopment plan.