The Real Deal New York

Developer gets IDA incentives for $91M New Rochelle apartment project

March 07, 2019 03:09PM

A developer that hopes to build a $90.5 million apartment complex in New Rochelle could be getting $14 million in tax relief, the Westchester County Business Journal reported. The New Rochelle Industrial Development Agency has given preliminary approval for Huguenot Partners’ proposed tax break, according to the outlet. Huguenot Partners, a unit of Manhattan-based developer DHA Capital, and co-development partner Corridor Holdings hope to build a pair of 14-story buildings and a 259-space parking garage on New Rochelle parcels located at 327 Huguenot Street339 Huguenot Street and 33 Centre Avenue. The two buildings, which will include 13,000 square feet of retail space, will collectively house 285 apartment units aimed at young professionals and college students. Construction is slated to start next year, pending approvals, and the buildings are expected to be occupied by the start of 2022. [WBJ]