The Alary is a 28-story mixed-use development at 33 Westchester Place in New Rochelle, NY, and the city’s first to utilize PACE financing. Situated on a remediated brownfield site, the project includes 315 apartments, retail space, and communal rooftop amenities. The project is advancing the city’s vision to transform the area into an immersive arts community inspired by New Rochelle’s historic artist colony. Enhanced Capital provided financing through a Brownfield Tax Credit bridge loan, a construction loan, and a PACE loan to support environmental remediation and development of the site. The Alary is the final phase of the three-building “Westchester Place” initiative. The initiative consists of 524 apartments, including market-rate and affordable artist-focused residences, 8,000 square feet of retail space, and the creation of 300 construction jobs and 25 permanent jobs.