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Article: New Rochelle nixes David's Island plan. (New Rochelle City Council, Xanadu Properties Associates loses exclusive rights to develop David's Island in Westchester, NY)
- Article from:
- Real Estate Weekly
- Article date:
- March 18, 1992
- Author:
CopyrightCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Eleven years and $23 million later a development partnership has lost its exclusive rights to develop David's Island in Westchester.
Despite downsizing their plan only three weeks ago, Xanadu Properties Associates was unable to win a five-year extension from the New Rochelle City Council.
The Council was convinced the large-scale project would not be approved by either the county or the Secretary of State and unanimously voted not to extend the developer's exclusive rights.
The move paves the way for other developers to make proposals for the 78-acre island, off New Rochelle on the Long Island Sound. New Rochelle Mayor Timothy Idoni said he has ...