Virtual groundbreaking held for $97M New Rochelle development

A groundbreaking ceremony took place in New Rochelle yesterday without the usual lineup of dignitaries each digging a shovel into a pile of earth and giving a simultaneous toss. Instead, due to the complications of Covid, it was a virtual ceremony conducted via the internet to mark the start of construction for the Renaissance at Lincoln Park.

The project will bring 179 units of workforce housing to the Lincoln Avenue area along with a new home for the Boys & Girls Club of New Rochelle.

The development is a joint venture involving Cleveland-based The NRP Group, New Rochelle-based nonprofit Guion Renaissance Housing Development Finance Corp. and Kensworth Consulting. Partnering are The Boys & Girls Club of New Rochelle and The City of New Rochelle.

New York State Homes & Community Renewal (HCR) is providing funding along with The NPR Group, the Interfaith Development Corporation, the Westchester County Housing Infrastructure Fund and the participation of Red Stone Equity Partners and Bank of New York Mellon.

In addition to the apartments and 350 parking spaces, the 23,400-square-foot Boys & Girls Club clubhouse will include a gym, basketball court, recording studio, study and play areas, a demonstration kitchen and administrative offices.

New Rochelle Mayor Noam Bramson said, “This new community development is an exciting step forward for New Rochelle, offering affordable high-quality housing, coupled with the most significant new youth services facility in generations. I am grateful for the public-private partnership that is bringing this positive vision to life.”

“In a time of incredible uncertainty, we were able to push through in partnership and make the dream of this project a reality,” said Jonathan Gertman, vice president of development at The NRP Group. “The Renaissance at Lincoln Park was born out of a community-driven vision and we are honored to be a part of bringing it to fruition.”

Since its founding in 1994, The NRP Group has developed more than 43,000 units of housing in the U.S. and currently manages more than 23,000 residential units.

The state”™s HCR Commissioner RuthAnne Visnauskas noted that the development is part of a five-year $20 billion plan to create more affordable housing in New York. HCR”™s Housing Finance agency is arranging $48 million in tax-exempt bonds to help pay for the development.

“The Renaissance at Lincoln Park will enhance economic activity along the Lincoln Avenue corridor, improve access to quality housing for families and help build a brighter and stronger future for New Rochelle,” Visnauskas said.