MASTER DEVELOPER AWARDS NEARLY HALF MILLION TO CITY
RXR, a leading real estate owner, operator and the master develop- er for Downtown New Rochelle, recently announced it is awarding
$100,000 to Boys & Girls Club of New Ro- chelle (BGCNR). This contribution marks one year since RXR announced a $500,000 grant program dedicated to the health, well-being and safety of New Rochelle’s children and families. Since its launch last year, RXR has committed more than $480,000 to various youth programming and educational initiatives.
The new $100,000 grant will support Boys & Girls Club of New Rochelle”™s Mascaro and Remington clubhouses, expanding on the services and programs they can provide in two of New Rochelle”™s most underserved neighborhoods. Grant money will directly support improvements for both clubhous- es, including the renovation of rooms, purchasing of new materials, operational costs and general building needs. RXR”™s continued investment in Boys & Girls Club of New Rochelle is critical in supporting these communities.
Since being selected as Master De- veloper of New Rochelle in 2015, RXR has created more than 3.3 million square feet of commercial and retail space and 5,500 new residential units.
“Since RXR was selected as the down- town master developer by the city of Ro- chelle, we”™re proud to have created thou- sands of new residential units, hundreds of new jobs, and to leverage this new devel- opment to support New Rochellians,” said Joseph Graziose Jr., executive vice president, development services at RXR.
“We are incredibly grateful to RXR for their generous support and ongoing commitment to Boys & Girls Club of New Rochelle. Their latest investment in our Mascaro and Remington clubhouses is vital in our mission to encourage and empower youth in need in New Rochelle,” said Becky Mazzanobile, CEO, Boys & Girls Club of New Rochelle. “…The work done at our clubhous- es has a direct impact on the lives of New Rochelle”™s youth and, more broadly, the city of New Rochelle ”“ over 80% of our members do service in the community ”“ and we strive
to ensure that each child achieves academic success, lives a healthy lifestyle and displays civic responsibility. We”™re thankful to RXR for its unwavering support.”
Launched in the spring of 2022, the $500,000 youth programming grant pro- gram follows RXR”™s previous contribution of more than $1 million in Covid relief funding to various nonprofit organizations in New Rochelle and the surrounding region over the past two years. Grants up to $25,000 were awarded as supplemental funding to exist- ing programs, while applicants for grants above $25,000 were encouraged to partner with other nonprofit organizations in New Rochelle to either establish or expand inno- vative programming that targets a specific need or population.
When New Rochelle became the na- tion”™s early Covid epicenter in 2020, RXR quickly established a Covid Relief Fund with $1 million in seed funding to help the city”™s residents, businesses and nonprofits. To date, the fund has disbursed over $1 million in grants, including $486,000 to Rebound New Rochelle ”“ a small-business relief pro- gram, providing $5,000 – $10,000 in grants to women/minority business owners, bilin- gual business liaison support and strategic consulting services.
RXR is an innovative investor, develop- er and place-maker committed to applying a customer and community-centered ap- proach to building properties, services and products that create enduring value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a 500+ person, vertically integrated operating and development company with expertise in a wide array of value creation activities, including ground-up real estate, infrastruc- ture and industrial development. The RXR platform manages 91 commercial real estate properties and investments with an aggre- gate gross asset value of approximately $20 billion, comprising approximately 30.0 million square feet of commercial properties, a mul- tifamily residential portfolio of approximately 8,800 units under operation or development, and control of development rights for an ad- ditional approximately 3,500 multifamily and for sale units as of March 31.