RXR Realty, which is the designated master developer for New Rochelle’s downtown, announced that it is giving $1 million to be used for supporting organizations and residents in the city that have been impacted by the COVID-19 outbreak.
In addition, there is a separate initiative involving $108,000 from the RXR Building Community Fund. That money will be used to provide three grants.
WestCOP, a multipurpose social services agency that combats poverty and its adverse effects in New Rochelle and the Hudson Valley region, will receive $50,000.
Another $50,000 is being designated for HOPE Community Services, the largest emergency food pantry and soup kitchen in the city of New Rochelle. HOPE also provides clothing, language skills, emotional support, immigration services, and other daily necessities.
The sum of $8,000 will go to The Guidance Center of Westchester, which focuses on mental illness, substance abuse, poverty and homelessness.
In 2015, New Rochelle and RXR came up with a redevelopment plan for the city’s downtown area. The master plan proposed creating 2.2 million square feet of medical and nonmedical office space, 5,500 residential units, 1.1 million square feet of retail and restaurant space, 300,000 square feet of hospitality space and 2.3 million square feet of student housing, adult care and institutional space.
RXR manages 75 commercial real estate properties and investments in the New York metro area with an aggregate gross asset value of approximately $20.5 billion.
Scott Rechler, chairman and CEO of RXR, said, “Now, more than ever, is the time for all of us to step up and support our New Rochelle neighbors in need.”
New Rochelle Mayor Noam Bramson praised RXR for the contributions, calling the company’s effort “an outstanding example of corporate citizenship.”
Bramson said, “In the face of an unprecedented challenge, it is essential for our entire community to come together, including the investors and builders who have a direct stake in New Rochelle”™s future. We have a shared obligation to identify the most critical needs, lift up our most vulnerable residents, support our struggling businesses, and demonstrate our city”™s strength and resilience.”
Laura Rossi, executive director of the Westchester Community Foundation said it is committed to helping provide necessary services and support to New Rochelle during this unprecedented time.
This is blood money, watch RXR suddenly get expanded tax abatement’s and less oversite on their projects.