In the past several years, New Rochelle has seen unprecedented economic growth.  The seeds that were sewn by city leaders in the last decade are coming to fruition.  The results are extraordinary.  The city's Department of Development , working in concert with the Downtown Business Improvement District (BID) and the New Rochelle Industrial Development Agency, has attracted development that has changed the face of the downtown.  The large influx of residents in new luxury housing has led to increased business for retailers, restaurants, the entertainment and hospitality industries, and professional-services providers.

The Journal News, in an Economic Developement Supplement (April 4, 2006), said, "New Rochelle, in a dramatic reversal of decoades of deterioration, has attracted more than $1.2 billion in development since 1992.  It is drawing people into the city through both its upgraded transportation center, which serves both Metro North and Amtrak railroads, and New Roc City, a retail and entertainment complex.  Now, like White Plains, it is making its downtown a 24-hour destination through the development of seven new residential complexes...."

This economic growth has brought developers and investors to New Rochelle looking for opportunities.  The Journal News (January 31, 2005) said, "After decades spent begging developers to look at its empty downtown lots, the city suddenly finds itself being courted by builders."  A key parcel in the heart of the downtown district is currently under construction as a $150 million 32-story luxery apartment and retail complex by developers Louis R. Cappelli and Donald Trump.  Cappelli stated, "New Rochelle is the next great developable city.  It's close to Manhatan.  It's underdeveloped.  And it has tremendous, tremendous, tremendous untapped potential" (Westchester County Business Journal, May 9, 2005).

In his 2006 state-of-the-city address, Mayor Noam Bramson predicted 276,000 square feet of hotel and office space, 418.000 square feet of new retail space, and 1,700 luxery apartments in the next few years.  He anticipates a total of 2.9 million square feet of new construction worth more than a billion dollars overall.

The mayor said, "We anticipate more than $1 billion of private investment in the next few years, including projects that will substantially change the physical composition, economic vitality and population of our central business district.  Our goal is to build a more livalbe city with physical infrastructure and quality services and amenities that compliment our growth...." (The Journal News Economic Development Supplement, March 24, 2006).

Greatly enhancing the downtown excitement is the New Roc City Entertainment Center, with Regal Cinema's 18 screens plus IMAX and a variety of choices for family recreation, including minature golf, bowling, interactive video games, laser tag and the famous SpaceShot.  There are three restaurants and an ice cream cafe.  People flock from miles around to enjoy New Roc.

Year-round activities and events, many of them sponsored or co-sponsored by the New Rochelle Chamber of Commerce, have also contributed to the success.  The influx of people downtown brings new patrons to restaurants and cafes.  Some restaurants and clubs offer live entertainment.

New Rochelle also boasts two high-quality hotels:  the Marriott Residence Inn at New Roc, offering single rooms or suites with full kitchens for short-and long-term stays, and the Radisson Hotel, offering banquet facilities that can accommodate large business and social events.  The Radisson also has an outdoor pool (in season), a fitness center and two restaurants.

Although much of the new development is downtown, other sectons of the city are likewise flourishing.  Along Palmer Avenue in the city's east end, Palmer Square, a 78,000-square-foot shopping center, is under construction with Marhsalls and HomeGoods as the anchor tenants.  It is the neighbor of a very successful Super Stop-and-Shop center.

Furthermore, New Rochelle eagerly anticipates one of the most exciting projects the city has ever experienced - the Echo Bay Waterfront Development.  Over 20 acres of land on Long Island Sound's picturesque Echo Bay will be redeveloped as a vibrant mixed-use attraction.  The project will include retail and small office space, townhouses, restaurants, and a bay walk.  It is expected to cost between $250 million to $300 million when completed by the end of the decade.  Withing walking distance of downtown high-rise residential and retail buildings, and clearly visible from Main Street, it will bcome a destination that is unmatched anywhere else in the region.