RXR Realty, a Uniondale-based commercial real estate developer, is developing an approximately $300 million rental housing project in downtown New Rochelle as part of the city’s redevelopment efforts, the company and city said Tuesday.

RXR, the developer behind Garvies Point, a waterfront condo and rental project in Glen Cove, is seeking site plan approval for the construction of two 28-story towers within walking distance of the New Rochelle train station. The multifamily project will have approximately 650 to 700 rental units and 35,000 to 40,000 square feet of retail space at the towers’ base.

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RXR is also building a $120 million, 28-story apartment building with two other joint venture partners in the city’s downtown.

The project “is a further sign of the benefits that can come to a community through an active collaboration,” said Seth Pinsky, executive vice president and investment manager at RXR. “It’s consistent with our efforts across the region, including Long Island.”

The developer plans to break ground in 2018.

RXR manages more than 80 commercial real estate properties accounting for approximately 23 million square feet of space in the New York metro area, according to RXR’s website. The company is working on the redevelopment of Pier 57 in Manhattan as well as the redevelopment of downtown Hempstead Village.