14-story, mixed-use project with 112 residential units, 3791 sf of commercial space. The Community Benefit Bonus of art installation on the façade gave the developer additional floors. Cappelli Organization. Developer White Plains-based Cappelli Organization is creating “The Standard" a 14-story tower at the site of the historic Standard Star building at 251 North Ave. … "When completed, The Standard will be about 87,000 square feet, including about 4,000 square feet of ground floor retail space. The tower will consist of 112 "micro" units: 13 studios, 92 one-bedroom apartments and seven two-bedroom units.” LoHud, Architect: Design Development
- High-Rise Development Begins at Former Site of Newspaper in Westchester (4/29/2018)
- Capelli Joins with City Officials for Groundbreaking (4/26/2018)
- Capelli Press Release (4/25/2018)
- New Ro's Standard Star development gets full go-ahead (10/30/2017)
- New Ro developer eyes Standard Star site for high-rise (3/29/2017)
- “The Standard” Passes Halfway Mark At 251 Northern Avenue In New Rochelle, New York ()
Zone: D0-2
Project Videos HERE
News
- Resolution-Lead Agency (4/25/17)
- IDA Meeting Minutes (10/25/17)
- Cappelli Organization
- Resolution-Site Plan Approval (4/25/17)
- Resolution-Neg Dec (4/25/17)
- NR IDA Meeting Minutes 9/27/17
- NR IDA Meeting Minutes 10/25/17
- NRIDA Agenda Package (9/27/17)
- NRIDA Agenda Package (10/25/17)
- LRC Construction
- Media Kit 11-14-19 with pricing and SF
- NRIDA Agenda Package (11/29/17)
- Property website
Project Information
Progress Gallery
Project Data*
Building
Studios: 13
1BR: 92
2BR: 7
3BR: 0
4BR: 0
Affordable: 0
Total: 112
Parking: 0
Stories: 14
Retail Space: 3791 sqft
Occupancy
Students: 2
School: Trinity
Jobs
Permanent FT: 15
Permanent PT: 0
Dates
Planning Board Approval: 4/25/2017
IDA Approval: 9/27/2017
Constr. Start: 4/26/2018
Length: 18 months
Completion: 10/10/2019
Tax Incentives
Full Property Tax: $8,664,756
PILOT: $5,250,823
Owner Savings: $3,413,933
PILOT (yrs): 20
Mortgage Tax Exemption: $306333
Fair Share Mitigation: $128,586
Data Last Updated: 11/7/2018
*Data listed here is subject to change. FOIL/FOIA requests are pending to obtain any missing data. Some of these numbers are estimated. Data comes from city documents.
** GLOSSARY TERMS: "As Is" taxes are the taxes of the property before development. Full Property Taxes are the taxes of the property after development. PILOT means Payment in Lieu of Taxes, which is less than full property taxes. Owner savings is the property tax abatement in dollars and as a percent of Full Property Taxes. PILOT length is the number of years that the PILOT is in effect. Fair Share Mitigation (FSM) fees are monies collected by the City from the developer to cover future infrastructure needs. The school system gets approximately 2/3 of the FSM fees.
*** Residents are calculated as follows: Studios = 1, 1BR = 1.5, 2BR = 3, 3BR = 4.5 (NDC formula) Students are calculated as follows: Studios (*0), 1BR (*0.014), 2BR (*0.141), 3BR (*0.213) (NDC formula)
*Data updating and collection is done by volunteers and may contain the occasional error or miscalculation.
** New Rochelle Parking Code including Minimum number of Spaces