Yonkers IDA Approves $177.3 Million in Construction Financing for 57 Alexander Street

Rendering of 57 Alexander Street - Rose AssociatesRendering of 57 Alexander Street - Rose Associates

Construction is expected to break ground soon at 57 Alexander Street, a 440-unit residential building in Yonkers, New York, following approvals for a major financing package valued at $177.3 million. The deal was approved by the Yonkers Industrial Development Agency, a public benefit corporation that provides business incentives to enhance economic growth in the City of Yonkers.

Rose Associates is responsible for development of the seven-story building. where 75 percent of the units will be studio and one-bedroom apartments. Ten percent of units will debut as affordable homes. In addition to residential area, the project will include 443 parking spaces and 25,000 square feet of open space including a landscaped public esplanade with access to the Hudson River waterfront and unobstructed views of the Palisades.

It is estimated that the project will create approximately 631 construction jobs and ten full-time positions.

57 Alexander Street arrives as the latest phase of the Alexander Street Master Plan, which outlines the City of Yonkers’ vision for redeveloping the Hudson River waterfront area. The 153-acre zone is described as a gateway project that will establish a mix of residential, retail, and commercial spaces in addition to outdoor public area.

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4 Comments on "Yonkers IDA Approves $177.3 Million in Construction Financing for 57 Alexander Street"

  1. How can I get an application?

  2. Yonkers needs to update its building plan to get a charter from the State of New York to create a SUNY Yonkers , reduce the pipeline to Vahalla, NY , yet the elected majority leader is not doing these thing once the Spanos clapped her buttocks because she is African-American, and most of the captains in Valhalla are related to them (Spano)somehow, talking about corruption in cash poor countries, yet their practices are not too far it. A young Latina girl lost her life because the future is bleak sometimes for poor latinos from Dominican Republic, Guatemala, Mexico, Brazil,(considered themselves for marriage immigration purposes) Also clean up School Street. Yonkers P.D. has physically attacked more minorities than any other municipal in the county, who were yet to turn 14, 15,and 16.What kind of Legacy is that as Law Agency.

  3. Mr. John Thomas native of China, also known in Chinese as Yi for the first name translation of John in English arrived in Kingston, Jamaica in 1888.Kamala Harris, former prosecutor of California, eventhough you dropped out of the race to become U.S. President, we are still searching for the truth, especially since of your fellow prosecutor in California is running for the U.S. Congress in Westchester.

  4. I would like to know what do you call affordable apartments because no one can afford any of these apartments without some kind of housing program or 5 kids,that none of the real tax payers are eligible for.

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