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National Development and EPOCH Senior Living, of Massachusetts, proposed a similar home in 2016 but quit the project because it “did not have the right risk-reward profile.”
The smaller of the two projects – NRP’s $63 million Lincoln Renaissance Apartments – is arguably the more transformative proposal.
Together, four developments are budgeted for $689.4 million and could receive $109.5 million in tax incentives over 20 to 30 years.
The New Rochelle Industrial Development Agency has amended a tax abatement deal to protect itself against the possibility that a portion of the $48 million 70 Nardozzi Place project isn’t built.
“This is one of my happier moments,” Charles B. Strome III, chairman of the city’s Industrial Development Agency, said at a meeting about plans for 70 Nardozzi Place.
The City of New Rochelle named Tracy Yogman as its new Commissioner of Finance. Yogman served as vice president of finance and chief financial officer...
State Comptroller Thomas DiNapoli recently released his annual report on local governments and expressed concern about New York’s municipalities ability to meet their respective fiscal challenges.