Luxury Mixed-Use Project Breaks Ground in NY
- Jun 07, 2019
CAC Realty Group has broken ground on The Huguenot, a 60-unit luxury residential development located in downtown New Rochelle, N.Y. the mixed-use project will include affordable units, ground-floor retail, a parking garage and a community art gallery space.
The development company and several city officials celebrated the groundbreaking in a ceremony earlier this week. Located at 387 Huguenot St., the property will offer a mix of studio, one- and two-bedroom apartment units, seven of which will be affordable units. Unit interiors will feature high-end appliances, modern furnishings and custom kitchens and bathrooms.
Community amenities at the property will include a rooftop garden with grills and a dog run, a fitness center, a community room, bike storage, pet care facilities and an automated parking garage with 57 spaces. The community is about a 10-minute walk from the New Rochelle Transit Center and the New Rochelle Metro North Railroad station. Brooklyn-based Doban Architecture designed the six-story property, which is expected to be completed later this year and open for leasing in the winter of 2020.
A development renaissance
The Huguenot is one of the first projects in New Rochelle to be designed using the city’s form-based zoning, which requires private developers to provide a community amenity in exchange for added building height.
The project is part of the overall $4 billion redevelopment plan for New Rochelle, which launched in 2015 when RXR Realty signed a master developer agreement that allows for more than 12 million square feet of new construction in the city. Along with 2.4 million square feet of office space, the plan includes 6,370 housing units and 1,200 hotel rooms. So far, 23 projects have been approved and 11 are currently under construction.
Late last year, a joint venture Harbor Group International and Azure Partners bought Halstead New Rochelle, a 588-unit luxury residential tower, for $259.4 million from Boston-based DSF Group. The 40-story property is the tallest apartment building in Westchester County and is located just down the street from The Huguenot.