RXR, New Rochelle Announced 2nd Major Downtown Project

NEW ROCHELLE, NY — A new development in New Rochelle was announced Tuesday by the city and developer RXR Realty. RXR proposed its second major project in the downtown area and the first to be constructed on one of the sites controlled by RXR by virtue of the master development agreement between the company and the city. The project, which is to be built on the Church-Division parking lot, will consist of two 28-story towers, with retail at the base, according to a spokeswoman.

When completed, the mixed-use project is anticipated to have approximately 650 to 700 residential rental units and 35,000 to 40,000 square feet of retail space. [Get Patch’s Daily Newsletter and Real Time News Alerts here.]

The project is ultimately expected to attract more than $4 billion in new investment. It follows on the heels of RXR’s 587 Main Street project, another 28-story, mixed-use building, containing cultural space, retail and 280 residential rental units.

RXR is expecting to seek site plan approval for the Church-Division project late in 2017 and, if that comes to fruition, will seek to break ground on the first project tower in the second half of 2018. RXR’s 587 Main Street project is expected to begin leasing late in 2018.

Mayor Noam Bramson said that with this announcement the city's revitalization efforts kick into high gear.

“RXR’s new project brings us a huge step closer to achieving our shared vision for a thriving, diverse city center, and will set the stage for further private investment in our local economy,” he said.

New Rochelle’s redevelopment plan includes the rezoning of 279 acres of land around its train station in its downtown area, and 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.

City officials said much of the overwhelming interest in New Rochelle on the part of investors and developers is due – in large part – to the city's unique “fast track” permitting program, which promises application approval within 90 days (including a completed environmental impact assessment).

Photo credit: Michael Woyton/Patch Staff.