NDR COMPLETES REHAB OF MACLEAY APARTMENTS

NEW ROCHELLE, N.Y. — The NDR Group has completed the $4 million rehabilitation of the MacLeay Apartments public housing community, located on Fifth Avenue in New Rochelle. NDR, formerly known as the New Rochelle Revitalization Corp., acquired the property from the state of New York in 1986 with the goal of privatizing the public housing community, while maintaining its status as affordable housing. Renovations to the three-building, 180-unit complex include a new parking plan, a reconfigured central plaza with site amenities, and the total renovation of all apartments, hallway and stairwells. It was also renamed Parkside Place. Layered financing for the project included a Community Block Grant, a Housing Development Action Grant, Mortgage Revenue Bonds and municipal bonds. NDR also provided financing for a community center that is primarily used as an after-school facility.