LCOR Underway on 307-Unit Apartment Building in New Rochelle, New York

by Taylor Williams

NEW ROCHELLE, N.Y. — Locally based developer LCOR is underway on construction of a  307-unit apartment building at 247 North Ave. in New Rochelle, located north of New York City. The 28-story development will include 18,000 square feet of commercial space and offer studio, one- and two-bedroom apartments. Roughly 10 percent (31) of the units will be reserved as affordable housing for renters earning 80 percent or less of the area median income. Bob Tonnessen and Steven Klein of JLL arranged $94 million in construction financing through Pacific Life for the project. Completion is slated for mid-2025.

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