The economy during the past three years has been hostile to new development, and has slowed the revitalization of New Rochelle’s downtown. Nevertheless, I am determined to use this time to undertake the often lengthy process of planning major projects, so that once the economic climate has improved, we can move forward as soon as possible.
In this light, I am pleased to report progress on one of the City’s most interesting properties, called the Main Street Core. Covering 4.5-acres and straddling two parking sites between Church Street and Centre Avenue, this location is a stone’s throw from Main Street itself and an easy walk from the train station.
The City’s development staff recommended that Albanese Development, of Garden City, be given a 90-day period to perform a more thorough review of the site and begin its assessment of construction costs in light of the City’s overall goals of revenue generation, job creation, economic and physical enhancement of the downtown, and provision of safe and accessible public parking.
Albanese was selected from several strong applications received this spring. They are a leader in sustainable architecture, having developed the first residential towers in the country to be awarded LEED Gold and Platinum designations. Among their well-known projects is the “Solaire” at Battery Park City. Albanese is committing $150,000 of their own funds to this 90-day period of review.
I will continue to keep you updated as this and other important development projects move forward.