New Rochelle Mayor Hints at Major Development Project in Works

NEW ROCHELLE—It appears that a major development proposal—the first project to come before the city since a far-reaching rezoning of the downtown district was approved by the City Council in December—will come before the city in the near future.

While details are sketchy, a mixed-use high-rise development project is in the works in Downtown New Rochelle. Mayor Noam Bramson, at a mayor’s roundtable event staged by the Business Council of Westchester on Jan. 22, provided some details on the proposal by RXR Realty, which is the downtown designated developer along with Renaissance Downtowns.

The mayor at the event said that that RXR Realty of Uniondale, NY has proposed its first project. RXR Realty, which is partnering with Rising Development on a mixed-use project adjacent to Larkin Plaza in Yonkers, will build the mixed-use project on private property in Downtown New Rochelle. The mayor described the project as a 28-story building with an arts center on the ground level.

Seth Pinsky, executive vice president of RXR Realty, in a telephone interview with Real Estate In-Depth, said, “We are thrilled to have received the approvals for the downtown redevelopment plan in December and our goal is to show tangible progress on that as quickly as possible.”

Pinsky said that his firm is actively looking at a number of development opportunities in the Downtown district, but stopped short of confirming the mayor’s statement of a 28-story project.

When asked if RXR has a timeline on when it will propose its first project, Pinsky responded, “We know that the city would like to see progress very quickly and it is certainly our intention not to disappoint.” He said the firm has nothing specific to announce.

Pinsky said that his firm believes its first project would be a mixed-use development. A mixed-use plan is important, he said, “to activate street fronts to the downtown and to bring more retailers.”

He added, “We continue to believe that a mix of residential and commercial in the floors above is also necessary to create the critical mass of demand to support the services that people are looking for in the downtown.”

RDRXR has been approached by a number of different private interests that have expressed interest in developing new projects in New Rochelle. While he termed those talks as “highly preliminary,” Pinsky added, “But the momentum that the city’s approval of the redevelopment plan created in December is certainly palpable.”

Photo Caption: New Rochelle Mayor Noam Bramson (center) flanked by other city officials after the City Council approved the sweeping rezoning plan for the Downtown District last December. PHOTO: COURTESY OF THE CITY OF NEW ROCHELLE

John Jordan
Editor, Real Estate In-Depth