"In a year full of abundance discourse, New Rochelle Mayor Yadira Ramos-Herbert is living the abundance agenda. The skyline of her Westchester County city, just 20 miles north of Manhattan, is barely recognizable from a decade ago. New apartment and condo towers have shot up, the city's population is booming, and rents and home prices haven't risen nearly as fast as in other cities in the region and across the US."
"The city plans to fulfill its goal of adding 11,000 units in about 32 buildings in several years, growing the city's housing stock by 37%, according to the Wall Street Journal. The mayor told Business Insider the city is about two-thirds of the way to its goal. And the efforts are showing signs of success. Median rents in New Rochelle rose by just 7% between 2017 and 2023, according to a Pew analysis of Apartment List data."
New Rochelle transformed its skyline with new apartment and condo towers, increasing population while keeping rents and home prices relatively moderate. The city plans to add 11,000 units across roughly 32 buildings, expanding housing stock by about 37%, and is roughly two-thirds of the way to that target. Median rents rose 7% from 2017 to 2023, compared with a 31% national increase. The city overhauled zoning, streamlined environmental reviews, and offered tax incentives to developers. The strategy prioritized converting underutilized commercial and parking lots near rail and bus stations into housing. The expanded supply affects the broader regional housing shortage.
Read at Business Insider
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