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Groundbreaking ceremony in New Rochelle marks start of downtown revitalization

$120M building will include affordable housing, hotel rooms and commercial space

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A ground breaking ceremony was held Wednesday for a state-of-the-art residential building in New Rochelle, with construction set to begin on the new 28-story residential building to help revitalize the downtown area.

Officials say the construction of the $120 million luxury building is just a first step in a 10-year multi-billion dollar plan to build more housing and businesses in New Rochelle. Ten percent of the building will be for affordable housing.

This all translates to over 6,300new housing units, 1,200 hotel rooms and over two million square feet of commercial office space.

In the 1990s and early 200s, developers came in and built housing , which was expected to be the start of a wave of economic boom in the city, but that didn't happen.

Developers say people who can't afford to live in New York City still want to live in an urban setting close to mass transit to Manhattan.

According to the latest census, nearly 8,700 people live in downtown New Rochelle.

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