RXR Realty Tops Off New Rochelle Apartment Tower
Real Estate In-Depth | February 11, 2021
NEW ROCHELLE— RXR Realty, master developer of Downtown New Rochelle, announced on Feb. 10 the topping out of One Clinton Park, a 28-story mixed-use tower under construction here.
The project created 250 on-site construction jobs, employing a diversity of contractors, including MWBE firms and local New Rochelle companies.
One Clinton Park features 352 state-of-the-art, highly designed and amenitized apartments, with more than 13,000 square feet of retail space. The building is minutes away from the New Rochelle train station, providing direct access to Midtown Manhattan in less than 45 minutes. The 433,000 square-foot development broke ground in 2020 and has moved along swiftly despite the ongoing pandemic. RXR and the project’s construction manager, LRC Construction, implemented on-site health and safety protocols to keep everyone safe, including social distancing markers and signage, enhanced cleaning processes, and enough space for crew to work collaboratively and effectively.
“We’re proud to celebrate another milestone in our role as master developer of New Rochelle’s downtown. Thank you to Mayor Noam Bramson, City Manager Chuck Strome, the New Rochelle City Council, and the entire New Rochelle community for their leadership and partnership,” said Scott Rechler, chairman & CEO of RXR Realty. “As long-term investors in New Rochelle’s downtown, we look forward to doubling down on our operational philosophy of, ‘Doing Good and Doing Well means Doing Better’ in the years ahead.”
“Just a little over a year ago, we broke ground on One Clinton Park. I would like to thank the City of New Rochelle for staying steadfast in their focus to revitalize their downtown,” said Joanne Minieri, SEVP, chief operating officer of RCS & RDS RXR Realty. “In spite of this pandemic, our construction management team came together and put forth the appropriate safety protocols so that the over 250 tradespeople who came to the site could continue to construct the building accordingly.”
In the past five years, as Master Developer of Downtown New Rochelle, RXR has made significant community investments to help revitalize the city’s urban core, including starting a $1 million COVID Relief Fund. One Clinton Park is on track for completion in early 2022, as is the start of construction of its sister tower, Two Clinton Park.
At the height of the pandemic, RXR implemented a wide New Rochelle relief program to help in areas including small business support, food insecurity, telehealth services, childcare, and digital literacy. Key initiatives include:
RXR COVID Relief Fund, a grant program dedicated to the recovery of New Rochelle’s non-profits and small businesses. Since its inception, the fund has awarded nearly $1 million to address community needs related to the COVID-19 public health crisis. Grants include: $50,000 to WestCOP; $50,000 to Hope Community Services; $50,000 to the New Rochelle Municipal Housing Authority; $200,000 to NourishALL; $8,000 to the Guidance Center of Westchester; $50,000 to the Child Care Council of Westchester; $8,895 to Academic Pathways; $8,000 to Westchester Alphas; $43,900 to STEM ALLIANCE and $30,000 to Boys & Girls Club of New Rochelle.
As part of the RXR COVID Relief Fund, RXR awarded $486,000 to Rebound New Rochelle, a small business relief program, providing $5,000 – $10,000 in grants to women/minority business owners, bilingual business liaison support and strategic consulting services.
RXR Volunteer, a program that matches RXR employees, partners and volunteers with non-profits and small businesses to provide skill-based support on topics ranging from applying for SBA funds, management to marketing.
RXR Realty LLC’s primary investment strategy is focused on New York City and the surrounding region. The RXR platform manages 74 commercial real estate properties and investments with an aggregate gross asset value of approximately $20 billion, comprising approximately 26 million square feet of commercial properties, a multi-family residential portfolio of approximately 3,400 units under operation or development, and control of development rights for an additional approximately 2,900 multi-family and for sale units in the New York Metropolitan area.