New Rochelle Picks Developer for $110M High-Rise Project

John Jordan | June 22, 2017

A rendering of the project at 45 Harrison St. in New Rochelle. Credit: HPA Urban Architecture

NEW ROCHELLE—The New Rochelle City Council on Tuesday selected MacQuesten Development, LLC of Pelham as the winning bidder to develop a 27-story $110-million mixed-use building at the current site of the city’s Fire Station #1 at 45 Harrison St.

New Rochelle Mayor Noam Bramson at a meeting of the Empire Chapter of the Women’s Council of Realtors on Monday reported that the council was poised to make a selection the next day. Mayor Bramson participated in a Mayor’s panel discussion held on June 19h at Juliano’s Caterers in Downtown New Rochelle that also featured chief officials from White Plains, Yonkers, Peekskill and Ossining.

MacQuesten’s proposed project, which was recommended by the city’s Department of Development, includes 282 residential units, approximately 9,500 square feet of retail, a four-story parking garage and an option for nearly 50,000 square feet of office space.

The developer’s proposal also includes relocating Fire Station #1 to a new site. MacQuesten intends to start construction on the new building while keeping the original station fully operational. The developer is hoping to begin construction on the project in the first quarter of 2018.

“The successful development of 45 Harrison Street is yet another milestone in our ambitious redevelopment initiative and a positive step forward in helping us create the ideal environment to live, work and grow in New Rochelle,” said Mayor Bramson.

“It is an honor to have been selected by the City of New Rochelle,” said Rella Fogliano, principal at MacQuesten. “The site has tremendous potential and we assembled a top notch team of industry professionals who will bring our vision to fruition. Our goal is to complete a development that will not just meet but exceed the city’s expectations.”

MacQuesten was one of multiple developers to respond to a competitive Request for Proposals for 45 Harrison St. the city issued in January 2017. The Harrison Street property is located between Huguenot and Main Streets, just east of the core Downtown area and in close proximity to I-95.

“MacQuesten’s proposal perfectly fits the mold of what we envisioned for 45 Harrison Street and we believe this opportunity will further contribute to the revitalization of New Rochelle’s downtown,” said New Rochelle Development Commissioner Luiz Aragon. “The option for 50,000 square feet of commercial space made this proposal stand out in a large pool of highly qualified applicants and MacQuesten’s mixed-use vision for this prime piece of property at New Rochelle’s eastern gateway aligns with our goals for the future of the downtown core.”

The development of the 45 Harrison St. property into a high-rise, mixed-use building complements New Rochelle’s overall redevelopment plan, which includes the rezoning of 279 acres of land around its train station in its Downtown area that is expected to attract more than $4 billion in new investment. The initiative allows for more than 12 million square feet of new construction including up to 2.4 million square feet of office space, 1 million square feet of retail, 6,370 housing units and 1,200 hotel rooms.

John Jordan
Editor, Real Estate In-Depth