Mayor, Local Officials Break Ground For New Rochelle Development

NEW ROCHELLE, NY — Mayor Noam Bramson joined state and county officials, Wilder Balter Partners, L+M Development Partners and Goldman Sachs Urban Investment Group to mark the start of construction with a groundbreaking ceremony in downtown New Rochelle. The site at 14 LeCount Place will be a 27-story mixed-use, mixed-income development.

The 457,000-square foot project is expected to be completed in 2022, with leasing set to begin in 2021.

The development will provide 380 units of housing, 25 percent of which will be affordable, as well as 6,200 square feet of retail space, a parking garage with 160 parking spaces and substantial resident amenities. The amenities will include an outdoor pool on the 25th floor with sweeping views of Westchester County, the Long Island Sound and the New York City skyline, two ample terraces and several lounges.

A five-minute walk from the New Rochelle's Metro-North and Amtrak station and less than 40 minutes from Grand Central Terminal by train, 14 LeCount Place represents the partnership’s first investment in New Rochelle and a key element of downtown’s ongoing revitalization, according to a spokesperson.

Bramson said 14 LeCount will be among the most positive and transformational projects ever undertaken in New Rochelle.

"It will bring the highest-quality urban design, street-level vibrancy, and enhanced public space to the heart of our downtown, while also providing outstanding housing opportunities at a wide range of price points," he said.

The development at 14 LeCount Place will be one of the first mixed-income buildings constructed in downtown New Rochelle. A quarter of the units will be affordable, half to individuals or families earning up to 50 percent of area median income and half to those earning up to 70 percent of area median income. Affordable units will range from studios to two-bedrooms.

The $190 million project is funded through a range of public and private financing sources. These include a $125 million construction loan from Citi Community Capital funded by a tax-exempt and taxable bond issuance by the New York State Homes and Community Renewal, as well as a permanent financing commitment from Freddie Mac.

Rounding out the suite of amenities at 14 LeCount Place will be an exclusive gym with fitness rooms; a fitness terrace and hammock grove; a lounge, library and entertaining spaces with bar and outdoor space; barbecue grills; a children’s play room; a dog run and wash area; bicycle storage, mail room, laundry room and private storage; and a co-working space for creative projects. The centrally located project will include frontage on LeCount Place and North Avenue.

Wilder Balter Partners and L+M Development Partners also have a second, adjoining phase of development planned for the site. It is expected to begin construction in 2022 and will include an additional 173 residential units with frontage of Main Street. The partnership is also developing a mixed-use project on Maple Avenue.

Find and “Like” Hudson Valley Patches' Facebook Pages.