The Journal.

How an NYC Suburb Is Keeping Rents Down

139 snips
Aug 20, 2025
Rebecca Picciotto, who covers real estate for the WSJ, dives into New Rochelle's bold strategy to keep rents down while many areas struggle. She explains how the city revitalized itself, turning challenges into opportunities by building thousands of new housing units. The discussion also highlights the balancing act between attracting newcomers and addressing the concerns of long-time residents. Picciotto reveals how New Rochelle's innovative approaches could influence nationwide housing policies, showcasing a potential model for sustainable urban development.
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INSIGHT

Supply Eased Rents

  • New Rochelle cut red tape and prioritized development to bring down rents by increasing supply.
  • Faster approvals and streamlined reviews made building quicker and cheaper for developers.
ANECDOTE

Master Plan Fast-Tracked

  • New Rochelle hired developer RxR to create a master plan and approved it within a year.
  • The city then standardized guidelines to guarantee a 90-day approval if developers met criteria.
ADVICE

Set Clear Build Rules

  • Standardize zoning and set clear criteria so developers know what to deliver and approvals can be fast.
  • Offer predictable timelines (e.g., a 90-day approval) to reduce litigation risk and speed construction.
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