WESTCHESTER COUNTY, N.Y. - As “the most ambitious downtown redevelopment in history” continues in New Rochelle, officials have broken ground on a $30 million multi-family development in the heart of the city.
This week, New Rochelle Mayor Noam Bramson was joined by developers from ELD Properties, the New Rochelle Industrial Development Agency and the Community Preservation Corporation to break ground on “The Millennia,” an ambitious $30 million, 110-unit development downtown.
The groundbreaking also marked the official opening of Burling Plaza, which has been described by officials as “a new community green space” at the corner of Burling Lane and North Avenue.
Officials said that The Millennia is the third of seven planned residential properties by ELD, with no less than 10 percent of those units being committed as affordable for low-income families.
Bramson said “The Millennia represents the next, exciting step in the dramatic transformation of New Rochelle’s downtown and, especially with the inclusion of a new public plaza, will bring life and energy to one of the most visible locations in our city.”
“The contemporary design and smart technological features of the amenity-rich Millennia will attract young professionals,” ELD CEO Tony Hammel added, noting that the six-story, 130,000 square-foot rental property will feature 110 highly-appointed apartments situated only one block away from the New Rochelle Transit Center.
“A state-of-the-art fitness center will open into a center courtyard with glass ceiling, koi pond and putting green. A social room, rooftop patio and flex office space provide the perfect settings to support tenant’s leisure and work activities.”
The Millennia is expected to be completed, with tenancy planned for the end of 2018.
“Today’s events mark a very exciting time for the city. The new residential development and plaza opening bring New Rochelle one significant step closer to attracting residential and commercial tenants from both near and far,” New Rochelle Development Commisioner Luiz Aragon stated.
“The city’s overall redevelopment plan, which includes the rezoning of 279 acres of land, is one of the most ambitious programs in the region and is expected to attract over $4 billion in new investment to the downtown area.”
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