News: Connecticut

The city of New Rochelle showcases development progress with new interactive development map

New Rochelle, NY Demonstrating the speed and progress of its downtown redevelopment initiative, the city introduced an interactive map on its Ideally New Rochelle website. The user-friendly map pinpoints the downtown locations of 18 major projects and encourages website visitors to explore each new development site through its online profile, which displays renderings, project details and relevant news coverage.  

With major groundbreakings, a host of newly approved projects and the launch of cutting-edge partnerships and initiatives, the city’s new development map further demonstrates the tremendous commitment city leadership has towards the evolution of its downtown through an on-going $4 billion redevelopment initiative.

“With New Rochelle’s ambitious and innovative development plans well underway and with many more exciting changes expected in our downtown, this interactive map enables investors, builders, and, most importantly, the public to track our progress and see our bright future take shape,” said mayor Noam Bramson.

“Developers, residents and businesses have found their way to New Rochelle, recognizing our city’s focus on embracing the arts and technology, ushering innovation and creating a dynamic, vibrant downtown,” said Luiz Aragon, the city’s commissioner of development. “New Rochelle is quickly becoming a premiere destination to work, live and grow, and key players throughout the region are taking notice.”

The city’s ambitious downtown redevelopment initiative has made significant headway since its establishment in 2015. In November 2016, the city launched the initiative with the groundbreaking of 587 Main St., a 28-story, mixed-use building, which will stand as a focal point of the city’s newly revitalized downtown district. The city’s unprecedented redevelopment initiative, which launched in 2015 with the signing of a Master Developer agreement with RXR Realty, allows for more than 12 million s/f of new construction including up to 2.4 million s/f of prime office space, one million s/f of retail, 6,370 housing units and 1,200 hotel rooms. 

Through the initiative, more than 8.6 million s/f of downtown space has been pre-approved for fast-track development by designated fast-track developer RXR Realty. On the residential side alone, there are more than 1,400 residential units underway.

With an unparalleled location, superb quality of life, diverse and talented residents and a focused business climate, the city is experiencing the transformation of a lifetime. The city’s economic development plan will provide a spark for the entire Hudson Valley region, positioning it as “open for business” and embracing smart, transit-oriented development growth patterns. Accelerated by a fast-track zoning process, the new master development initiative will enhance the downtown by boosting job creation, property values and private investment–while enhancing sustainability through green and energy-efficient design. Learn more at: www.ideallynewrochelle.com/development-.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary