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Old 09-04-2018, 12:53 PM
 
626 posts, read 482,246 times
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Quote:
Originally Posted by ironlex View Post
High schoolers get knifed in New Roc.

I have been rooting for New Rochelle to turn around for years, but I'm unfortunately betting on real estate developers losing money as opposed to New Rochelle suddenly becoming a haven for 20 and 30 something professionals. The schools are simply not very good by Westchester standards, and there are safety issues as the poster notes above. That eliminates from the pool of potential buyers a whole lot of affluent 30 somethings who instead land in Pelham, Larchmont, and Mamaroneck.
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Old 09-04-2018, 01:42 PM
 
72 posts, read 66,732 times
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Quote:
Originally Posted by BD1978 View Post
I have been rooting for New Rochelle to turn around for years, but I'm unfortunately betting on real estate developers losing money as opposed to New Rochelle suddenly becoming a haven for 20 and 30 something professionals. The schools are simply not very good by Westchester standards, and there are safety issues as the poster notes above. That eliminates from the pool of potential buyers a whole lot of affluent 30 somethings who instead land in Pelham, Larchmont, and Mamaroneck.
I agree with you. I was shocked when I saw the amount of new development in New Rochelle.

The only thesis I can think of is that the rental market isn't that robust in Westchester. If you want to move out of the city and you work in Midtown Manhattan, you don't have many options.

I thought the same thing when Jersey City was being developed a few years ago. It's done surprisingly well.
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Old 09-04-2018, 02:46 PM
 
120 posts, read 53,040 times
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Originally Posted by mlamb93 View Post
I agree with you. I was shocked when I saw the amount of new development in New Rochelle.

The only thesis I can think of is that the rental market isn't that robust in Westchester. If you want to move out of the city and you work in Midtown Manhattan, you don't have many options.

I thought the same thing when Jersey City was being developed a few years ago. It's done surprisingly well.
I have been generally unimpressed with NR development projects. Very bland. Here's the website that tracks them, for those who are interested:

New Rochelle Development

Residential development is not going to turn anything around in NR. It will only put strain on the already crumbling infrastructure, IMHO. JC's growth was fueled by economic development created by Wall Street firms moving their back offices from midtown/downtown Manhattan to NJ to cut costs. Nothing of this sort is happening in New Rochelle.
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Old 09-04-2018, 03:01 PM
 
72 posts, read 66,732 times
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Quote:
Originally Posted by ironlex View Post
I have been generally unimpressed with NR development projects. Very bland. Here's the website that tracks them, for those who are interested:

New Rochelle Development

Residential development is not going to turn anything around in NR. It will only put strain on the already crumbling infrastructure, IMHO. JC's growth was fueled by economic development created by Wall Street firms moving their back offices from midtown/downtown Manhattan to NJ to cut costs. Nothing of this sort is happening in New Rochelle.
I guess my point is that regardless of the architectural appeal (or lack thereof) of these projects, there is still a sizeable amount of new development $ going to New Rochelle. New condos are not a silver bullet for the city's issues, but it's usually how things begin to change.

FYI I don't live in New Rochelle. I just find the dynamic interesting for all of the reasons outlined on this thread.
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Old 09-04-2018, 03:46 PM
 
Location: Confines of the 101 Precinct
19,258 posts, read 34,382,097 times
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NewRo's change will be inevitable

There's a sizable quantity of co-op apartments on the market that people who work in Manhattan cannot afford in the 5 boroughs.

The commute is the biggest draw really.

https://www.trulia.com/p/ny/new-roch...05--2230322056

You can easily pay triple for that in Queens or Brooklyn.
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