City presents Vanguard District metrics, tenant-improvement push and Lincoln Avenue strategy

City economic development staff told the City Council on April 15 that private investment and residential construction downtown have accelerated since adoption of the city's downtown overlay zone, and laid out programs intended to convert vacant storefronts, boost local hiring and measure outcomes in the Lincoln Avenue neighborhood.

The presentation, led by the city's economic development team and summarized to the council by Commissioner Salgado, said "since 2015 when we adopted the downtown overlay zone, we've seen $2,500,000,000 in private investment in New Rochelle," and described 11,000-plus new residential units across 32 projects, 23 of them complete or leasing.

Why it matters: The briefing tied physical development to city goals on jobs, small-business growth and neighborhood equity. Staff framed the Vanguard initiative as a toolbox of grants, regulatory changes and activation programs intended to reduce storefront vacancies, raise downtown patronage and target neighborhood benefits near the Link project.

City figures and programs presented - Private investment and housing: Staff said 11,000+ new residential units in 32 projects since 2015, with roughly 4,500 rental units currently leasing and an overall downtown occupancy staff estimated near 90 percent. They said 7,000 new residents are living downtown. The presentation said about $36 million in in-kind public benefits (new plazas, pocket parks and community spaces) have been provided as part of private projects. - Affordable housing: Staff said the downtown buildout includes about 1,000 affordable units. Across the completed and in-progress portfolio, staff reported…