Preferred Developer Chosen for Main Street Core

A new transit-oriented development could be built in New Rochelle as a result of actions taken at Tuesday's City Council meeting.

The City will enter into an agreement to work with the developer Albanese Organization, Inc., and architect Pelli Clarke Pelli to study the feasibility of building the Main Street Core project where the existing Prospect Street lot and Church Division Garage are, in downtown New Rochelle.

"I know the entire council is looking forward to the results of the analysis," said Mayor Noam Bramson.

The council voted unanimously to authorize City Manager Charles Strome III to execute the agreement.

A 90-day period of due diligence will be specified in the agreement "to allow for exploration of all policy and financial implications with respect to the proposed development." 

Albanese will contribute up to $150,000 for the review as well as pay any costs incurred by the city. 

The 90 days is a window in which Albanese and Pelli are declared a preferred developer, which would enable the city to test their marketing and the developer to test the New Rochelle marketplace.

During the 90-day period, the developer and the architect will examine the physical aspects of the area, along with the economic factors, design scenarios and financing options.

According to the resolution, either party can end the relationship at the end of the 90 days or can continue "if mutually acceptable."

If the city and the developer decide to continue, a more formal memorandum of understanding will be presented to the council for consideration.

Albanese Organization, Inc., of Garden City, Nassau County, built the residential 100 U.N. Plaza, the German Mission to the U.N. and the Lycee Francais in New York.

New Haven, CT and New York, NY-based Pelli Clarke Pelli designed, among others, the World Financial Center in New York and the Petronas Towers in Malaysia.