The revitalization of downtown New Rochelle got another big boost with the announcement this week of RXR Realty’s plans to build two 28-story mixed-use towers on the site of parking garage south of Main Street. The $300 million, two-phase development would feature 650 and 700 residential units between the two towers plus 35,000 – 40,000 square feet of retail space. The project, which is expected to break ground next year, is the first on city-owned property under terms of the city’s master development agreement.
“This project signals our continuing commitment to and belief in the future of the city,” said RXR CEO Scott Rechler. RXR is already building a separate 28-story mixed-use tower at 587 Main Street. The company also has a major residential tower under construction in downtown Yonkers.
One of the BCW’s major initiatives this year is a focus on the transformation under way in the county’s major urban centers which include New Rochelle, Yonkers, White Plains and Mount Vernon. All four cities are undergoing a residential building boom.