A new study from Pew — which examines four cities across the nation, including New Rochelle — concludes that housing growth helps to moderate rent increases and make housing more affordable, even when most of the new housing is market rate. In one sense, this is not particularly surprising — it’s just the basic law of supply and demand in action. Yet for those who have been concerned that a stronger downtown economy might pressure up rent levels and displace long-time residents, these findings should be reassuring. Even as historic redevelopment breathes fresh life and energy into our city center, New Rochelle will remain accessible and welcoming to people of varied means.
