Subsidy Tracker Individual Entry

Company: 
Avalon on the Sound East (Phase II)
Parent Company: 
AvalonBay Communities
Subsidy Source: 
local
Location: 
New York
City: 
New Rochelle
Address: 
40 Memorial Highway
Zip: 
10801
Project Description: 

Finance, Insurance and Real Estate; Sold to DSF Group in 2013; City received $1.8 M transaction fee. Acquisition, construction, and equipping of a commercial forprofit rental housing facility, including related parking facilities. Phase II total project cost at time of application was est. at $90M. Actual proj. cost was approx. $150M when built several years later.

Year: 
2015
Major Industry of Parent: 
real estate
Specific Industry of Parent: 
real estate
Subsidy Value: 
$6,689,476
Program Name: 
Industrial Development Agencies
Awarding Agency: 
New Rochelle Industrial Development Agency
Type of Subsidy: 
tax credit/rebate
Notes: 

Subsidy value is total for the year of property tax abatements and sales tax exemptions net of payments in lieu of taxes. See original source for jobs and wage information. Description merges a general industry description with a project specific description as provided in the disclosure.

Source Notes: 
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