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IMMEDIATE RELEASE
NEW ROCHELLE, NEW YORK
May 13, 2003

WEST END 2000
INNOVATIVE MULTI-MILLION DOLLAR AFFORDABLE HOUSING DEVELOPMENT NEARS CONSTRUCTION

The project sign, soon to be erected, reads "A Promise Kept". The Development soon be constructed is just that, "A Promise Kept". A vision of what a neighborhood could be conceived of some 25 years ago, resurrected 5 years ago will break ground in less than 1 year. It will come before the New Rochelle Planning Board May 27. "If there was ever a project that should have faded, not because of a lack of need for affordable housing or support for it but because of other seemingly insurmountable obstacles this is the one" stated Frank J. Garito, President of NRNRC and author of the West End 2000 vision to the Mayor and City Council of New Rochelle today. But the obstacles were overcome and in partnership with the City of New Rochelle and County of Westchester NRNRC has been able to amass a grant fund of over 13 million dollars for the construction of a 102 unit affordable assisted living facility and 63 single family town homes for first time home buyers. "Everything about West End 2000 is innovative" said Charles J. DePasquale, Executive Vice President of NRNRC. It's an urban renewal project, but relocated homeowners bought new homes in New Rochelle and relocated families will have an opportunity to purchase new affordable town homes in the West End neighborhood they have left, temporarily. It's affordable assisted living for frail elderly, unique to Westchester County and New York State where assisted living is a high end housing product to the exclusion of low income frail elderly. It's the epitome of grantsmanship where a combination of Federal HOME Funds from the City, Bond Funds for housing purposes from the County, McKinny Act Funds and a multimillion dollar HUD Special Grant which required congressional approval has been obtained for West End 2000. More affordable housing funding is expected from the State and Federal Home Loan Bank. "The obstacles we overcame has allowed a promise made to a community and a City 25 years ago to become a reality today" stated Frank J. Garito to Mayor Tim Idoni and City Council members.