New Rochelle‘s Industrial Development Agency will consider a new 23-story project located at 277 North Avenue. The tower will include a mix of market rate and affordable rental units above lower-level retail and an adjacent enclosed parking structure.
The existing commercial structure measures 27,000 square feet and was originally constructed in 1977, with an expansion completed in 1998. Following a partial demolition, the new building will comprise nearly 489,000 gross square feet divided among 326,000 square feet of residential area, 13,000 square feet of retail, and 66,000 square feet of residential parking, designed to accommodate 471 vehicles.
The property’s 442 rental units will include 106 studios measuring 516 square feet, 215 one-bedrooms at 670 square feet, 128 2-bedrooms at 1014 square feet apiece, and 3 3-bedroom residences with 1215 square feet each.
Retail locations will be split, with one store on North Avenue and a second, two-story pavilion fronting Huguenot Street.
Construction is expected to begin in February 2019 with completion by July 2021. The estimated project cost falls just under $170.5 million.