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Lincoln Avenue Town Houses Phase
II, before and after |
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from
the Mission Statement
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In 1979, when members of the City of New Rochelle
Department of Development put forth an idea to the local government, it
was truly visionary, and untested. The idea: to create and develop affordable
housing through a private not-for-profit corporation.
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The result: the construction or renovation
of over 1,000 housing units valued at over 30 million dollars and the generation
of new tax revenue amounting to hundreds of thousands of dollars annually.
One of the success stories includes the transformation of a public housing
complex, with several hundred thousand dollars in back taxes owed, into
private rental residences that resulted in a $600,000 positive annual financial
turn-around for the City of New Rochelle. NRC’s payments to the City
are in the excess of $350,000 annually. Since 1990 over 2.1 million dollars
has been paid.
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But the benefits go far beyond numbers on a
city account sheet. By providing affordable housing to once blighted and
deteriorating communities, the NRNRC has been able to resurrect parts of
New Rochelle to their former stature as areas of economic development and
civic pride. "I can’t believe I am a home owner, it’s beautiful
here. I didn’t think I would be able to afford a home for at least
seven more years," said Finny Joseph, who now owns a home in the Lawn
Avenue Affordable Housing Development. Home ownership is also important
to the stability of a neighborhood, said Frank Garito, President of NRNRC.
"Affordable housing, which is owner occupied, is the single most important
catalyst to neighborhood stability and revitalization."
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With its not-for-profit status, the NRNRC has
received numerous grants from federal, state and local governments and is
the recipient of many housing awards. One of the most important victories
the organization has seen was its snagging of one of the last HODAG or Housing
Development Action Grant awarded in the country.
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As affordable housing continues as a necessary
priority for communities its scarcity in communities across the nation has
surfaced in recent news reports and studies. Experts at Harvard University’s
Joint Center for Housing Studies say that the working poor are finding it
increasingly difficult to afford homes. "Many renters are caught in
a bind: on the one hand, it’s harder for them to save enough to buy
a home, and on the other hand, it’s harder for them to afford the
homes they rent," said Eric Beisky, executive director of the Center,
in a June 21, 1999 USA Today article.
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But even with the increasing challenges the
NRNRC remains ever ready to face them. With the newly completed Lawn Avenue
Development and an additional development called West End 2000, the corporation
is increasingly providing housing for senior citizens. And to ensure generational
diversity these developments also include space for young families, who
are feeling the housing pinch.
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The NRNRC is the most dynamic and creative
housing organization in Westchester County today. Its development
exhibits the sophistication and expertise of a seasoned and experienced
developer focused solely on providing New Rochelle residents with affordable
housing and the economic benefits generated by this type of development.
As NRNRC goes into unchartered territory with its plans for the new millennium,
it is well prepared for the challenges it faces. With a track record of
unprecedented success and a reputation as an innovator of affordable housing,
NRNRC will continue to serve as a model for communities nationwide.
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