219-Unit Affordable Apartment Building Opens Doors In New Rochelle

NEW ROCHELLE, NY — A brand new $135 million development in Westchester County is ready for tenants.

Governor Kathy Hochul was on hand this week to announce the completion of Highgarden Tower, a new 219-unit affordable apartment building in New Rochelle. The $135 million development includes more than 75 supportive units to help address those in crisis.

"Highgarden Towers provides New Rochelle with another affordable, modern apartment building in a convenient location," Hochul said. "This transit-oriented development builds upon our recent major investments in the city and ensures individuals and families have the housing, on-site support services, and quality of life features that allow them to thrive."

Hochul said the Highgarden Tower development compliments her administration's $25 billion comprehensive Housing Plan which calls for building or preserving 100,000 affordable homes across the state, including 10,000 with support services for vulnerable populations.

See Also: New Lottery Open For 133 Affordable Apartments At Highgarden Tower

All the units at Highgarden Tower are available to households earning up to 80 percent of the Area Median Income (AMI). There are 77 apartments reserved for households with individuals who need on-site support services such as individual and family counseling, safety planning, health coaching and financial coaching.

The development includes 8,000 square feet of community incubator space contributed by the City of New Rochelle with a mission is to expand and develop small businesses.

"In the midst of a statewide housing crisis, Highgarden Tower’s 219 affordable apartments address a critical need," New Rochelle Mayor Yadira Ramos-Herbert said, "As the fastest growing city in Westchester County and a designated Pro-Housing Community by Governor Hochul, buildings like Highgarden Tower ensure that New Rochelle remains a livable and accessible city for all."

Highgarden Tower was developed by Georgica Green Ventures, LLC in collaboration with RXR, the master developer of downtown New Rochelle. Housing non-profit New Destiny Housing will provide on-site support services.

"With its permanent affordability, location next to key transit and onsite social services, Highgarden Tower is a model for sustainable affordable housing development," RXR Executive Vice President of Development Services Joseph Graziose, Jr. said. "Highgarden Tower not only substantially increases the number of quality affordable units in Westchester County, but also serves as an invaluable resource for the residents of New Rochelle."

Highgarden Tower’s energy efficiency features include water-conserving plumbing, Energy Star appliances, and high-efficiency lighting. The building features parking, two community lounges, laundry facilities, a gym and a storage room. Family-friendly amenities include a children’s playroom and an adjacent greenspace.

The project is supported by HCR’s Federal and State Low Income Housing Tax Credit program which generated approximately $45 million in equity, $26.5 million in permanent tax-exempt bonds, $34.7 million in subsidy and a $6 million loan from its Federal Housing Trust Fund program.

The site also participated in the Department of Environmental Conservation's Brownfield Cleanup Program and became eligible for $7 million in tax credits to be issued by the NYS Department of Tax and Finance.

"Transformation of former industrial sites into affordable housing in underserved communities is a hallmark of the Brownfield Cleanup Program, helping to support local revitalization efforts through the cleanup of environmental pollution across our state," Department of Environmental Conservation Interim Commissioner Sean Mahar said. "The Highgarden Tower Apartments site in Westchester County is a great example of how this successful program continues to advance Governor Hochul’s commitment to increasing the construction of affordable housing statewide while simultaneously supporting DEC’s mission to protect public health and the environment."

Operating funding for the 77 supportive units is being provided by the Empire State Supportive Housing Initiative through the Office of Temporary and Disability Assistance.

"The opening of Highgarden Tower Apartments in New Rochelle will provide Westchester County residents who have experienced homelessness with much-needed affordable housing along with supports necessary to help them stay safe and thrive," Office of Temporary and Disability Assistance Commissioner Barbara C. Guinn said. "The location’s access to public transportation and community resources will enrich the lives of residents."