Forest City Proposes $450M Waterfront Project

NEW ROCHELLLE, NY-The City of New Rochelle is now going over the details of a new plan to develop the Echo Bay area along its waterfront. Forest City Residential Group, the designated developer for the project, has proposed a $450-million mixed-use development on approximately 24 acres.

The plan, officially presented to the city last week, calls for 600 luxury apartments, 62 townhomes, 42 condominium units and 100,000 sf of retail. Also part of the plan will be some restaurants and docking space for small boats. A significant part of the endeavor will be the creation of approximately five acres of public parkland and about a mile of a promenade walkway for public access. The project will also be designed as a sustainable green development, Forest City officials say.

David Levey, EVP of Forest City Residential, says the plan is the result of about a year’s worth of work by the firm in conjunction with input from city agencies and from meetings with city residents. In December 2006, the New Rochelle City Council unanimously endorsed Forest City Residential as the designated developer for the Echo Bay project. The firm bested WCI Communities of Bonita Springs, FL and Twining Properties of New York City for the designation.