NEW ROCHELLE – By a unanimous vote Tuesday night, the New Rochelle City Council approved the Downtown Overlay Zone and Community Benefits Policy that will provide a transparent roadmap for investment to developers and property owners and sets design standards and community benefit requirements intended to create a thriving, attractive, and sustainable city center.
The plan permits construction of up to 990,000 square feet of new retail
space, 1.8 million SF of new non-medical office space, 420,000 SF of medical
office space and 5,500 apartments, hundreds of which will be affordable
housing.
A year ago, the city designated RDRXR company as its master developer for downtown.
“This innovative development framework positions our city for success, especially combined with New Rochelle’s core assets – unrivaled location and transit connections, a talented and diverse population, and great schools, libraries and neighborhoods,” said Mayor Noam Bramson. “There is no community in New York that offers a better opportunity today or a bigger upside tomorrow.”
Renewed interest in Foreign Trade Zone
April 30, 2024
