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New Rochelle: First Recipients of its $2.25M Retail Tenant Improvement Fund Announced

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Development

Key component of Vanguard New Rochelle—the City's Downtown Retail Strategy—the fund provides business owners financial support for interior fit-out and renovations, plays critical role in reducing vacancies by accelerating storefront occupancy

The City of New Rochelle today announced the award of $1.12M to the first eight recipients of its $2.25M Retail Tenant Improvement Fund, a major initiative to support space upgrades, renovations, and buildouts as part of the City's broader downtown revitalization. Awards, ranging from $40,000 to $250,000, were approved in under six months. The awardees include business owners who are new to the area and opening in vacant storefront spaces, as well as New Rochelle staples who are expanding or elevating their existing brick-and-mortar locations.

As a part of Vanguard New Rochelle – the City's Downtown Retail Strategy – the Retail Tenant Improvement Fund was established to enhance downtown vibrancy and bolster economic opportunity. With more than 70 applications submitted, this first round reflects strong demand from entrepreneurs and property owners alike. The program builds on the momentum of New Rochelle's redevelopment efforts, which have delivered over 10,000 new housing units, attracted $2.5 billion in private investment, and helped bring in 50 new businesses over the past five years—29 of them since 2023, including 15 in the last year alone.

"It's exciting to see the interest and eagerness among the business community in applying for these funds," said New Rochelle Mayor Yadira Ramos-Herbert. "With the Retail Tenant Improvement Fund, we're not just transforming storefronts, we're creating vibrant, welcoming destinations where people can gather for a meal, enjoy outdoor seating, attend events, and truly experience the heart of our City. These enhancements are helping shape a more dynamic, welcoming city center that invites discovery and connection."

"We are thrilled to see so much activity in the application process, and such a high rate of response from our business community as we look to build on the recent momentum of business openings to activate even more vacant storefronts and revitalize the City's retail corridors," said Adam Salgado, New Rochelle Commissioner of Development.

The participating businesses exemplify the strategy's mission: to spark downtown vibrancy, create gathering places, and elevate the City's identity as a thriving, inclusive destination. In the coming months, New Rochelle natives, newcomers, and visitors can expect to see new and enhanced eateries, cultural centers, and more to come. The awarded funds are anticipated to bring $2.25M in total improvements to the downtown, yielding significant ROI for the City's funds to revitalize the heart of the City.

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Here's a look at the inaugural cohort of grantees of the Retail Tenant Improvement Fund:
  • Hour to Exit – A fan-favorite escape room experience will relocate from 466 Main Street into a raw, vacant space that will be completely reimagined. With funding for architectural services, new lighting, and interior finishing, Hour to Exit is set to deliver an upgraded, immersive adventure for residents and visitors alike.
  • Casaroma Café – A cherished coffee hub and community anchor will optimize their current space to host more evening programming, arts events, and social gatherings — enhancing its role as a cultural connector in the heart of Downtown.
  • Touch D Medical Spa – This health and wellness destination has relocated from 466 Main Street to a new space designed for growth. With support for new furniture, fixtures, and modern equipment, Touch D will elevate its services and ambiance to offer a fresh take on personal care and rejuvenation.
  • The Lincoln Park Conservancy History & Cultural Center – This long-awaited vital center for Black history and heritage is finally coming to life. The grant funds will enhance this space with a podcast studio, flexible seating, a ceiling-mounted lighting grid, and updated furnishings — expanding its ability to educate, engage, and inspire.
  • Mona, Indian Eatery – A modern culinary gem will come to life with the addition of a vibrant outdoor beer garden, transforming the new restaurant's exterior into a welcoming space for community gathering, outdoor dining, and cultural celebration at the core of the Downtown.
  • Teriyaki Madness – This new fast-casual restaurant will receive support to fit out its raw space with brand-new furniture and equipment throughout the kitchen, front-of-house, and dining area — delivering a new dining experience to the Downtown.
  • Roc N Ramen – A beloved local staple will optimize its kitchen and seating area to better serve its growing customer base, boosting operational efficiency and creating a more welcoming environment for diners.
  • Monarch Reserve – This new female, minority, disabled veteran-owned cannabis dispensary will offer a high-end customer retail experience with a sleek interior design including polished floors, lush greenery, energy-efficient LED lighting, and a stylishly renovated second floor that will house a boutique consumption café — the first of its kind in the area.

These investments are a cornerstone of Vanguard New Rochelle's broader effort to energize the downtown with experiential, inclusive, and community-centric spaces on the heels of the unprecedented redevelopment throughout the city. Each project brings fresh life to vacant or underutilized storefronts and reinforces New Rochelle's position as a bold, forward-thinking urban center.

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"We're passionate about bringing exciting and unique experiences to the community in New Rochelle and are honored to introduce our guests to our reimagined space," said Brittney Coleman, Owner of Hour to Exit. "These upgrades will enhance the adventure our visitors already know and love, offering an even more immersive and unforgettable escape experience during their visits."

"As a local business owner, my goal is always to offer the best in authentic service and hospitality, and thanks to the Retail Tenant Improvement Fund, I have the opportunity to expand our space at Mona for an elevated experience," said Andrew Abraham, Owner of Mona. "Our new beer garden will transform the restaurant's exterior, bringing fresh energy and a new attraction. We look forward to welcoming both new and returning guests to our renovated space!"

In addition to the Tenant Improvement Fund, the program encompasses the creation of the Vanguard District to provide new opportunities for businesses to operate within the downtown, sweeping streetscape beautification and safety improvements, and retail enhancements through pop-ups and storefront revitalization. In conjunction with these initiatives, the Downtown Retail Strategy complements the various developments currently underway in New Rochelle, including the upcoming construction of the LINC project, which will transform Memorial Highway into a vibrant linear park, and the redesign of the New Rochelle Train Station and Intermodal Transit Center.

About the City of New Rochelle
With its unparalleled location, superb quality of life, diverse and talented residents, a focused business climate, and a robust residential and commercial development pipeline, the City of New Rochelle is leading the transformation of a generation. Its close proximity to New York City and opportunities for businesses to grow and succeed in the current economic climate is defining the City of New Rochelle as "open for business" – ready to welcome new residents of all socioeconomic backgrounds and embrace smart, transit-oriented development growth patterns that promote open space. Accelerated by a fast-track zoning process along with resources for small businesses and micro-enterprises, the "New Rochelle Model" of development continues to enhance the City's downtown area and business district by supporting job creation, property values and private investment – while enhancing sustainability and livability through green and energy-efficient design. The City of New Rochelle has been recognized regionally by the state and federal government for its thoughtful city-wide infrastructure improvements and advancements including affordable housing development, the creation of more usable public space and recent ten-year flood mitigation program. For more information on why New Rochelle is ideally yours, please visit https://www.newrochelleny.com/.

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