The Yonkers Industrial Development Agency (IDA) has approved five new residential and commercial developments across the waterfront city. The developments are projected to create more than 600 construction jobs and over 300 apartments, including affordable housing for low-income seniors.
The first development is an adaptive reuse project at 15-23 North Broadway. Known as Wheeler Block Lofts, scope of work includes the interior combination of three existing historic buildings into one continuous structure. The building will comprise 36 studios and one-bedroom apartments set above three ground-floor commercial spaces.
The 125-year-old façade will be fully restored as approved by the New York State Historic Preservation Office. Total development costs hover around $11.5 million.
Whitney Young Manor, the second approved development, represents over $79.5 million in private investment from an affiliate of Omni New York. The developer intends to rehabilitate two existing buildings at 354 and 358 Nepperhan Avenue. Together, the buildings comprise 195 rental units ranging from studios up to four-bedroom apartments, and multiple commercial businesses including a grocery store and a storage facility.
The scope of work includes a new façade with improved insulation, a full roof replacement, and a centralized heat pump system that will provide heating, cooling, and domestic hot water.
The IDA also approved Mary The Queen Senior Housing, the conversion of a former convent at 35 Vark Street, into an affordable housing community for low-income seniors. Led by the Sisters of Charity of St. Vincent de Paul and the Finian Sullivan Corporation, the project will create 73 apartments and a lower-level community space.
Total project costs are estimated at $42.6 million.
View of Alder Manor at 1097 North Broadway, now known as The Plant Manor
The fourth and final project approved by the IDA is located at 1097 North Broadway led by The Plant Manor LLC. The developer intends to transform an existing property known as The Manor into a 70,000-square-foot venue for weddings, professional events, and media production. Accompanied by 25 guest rooms, The Manor will serve as the sister property to The Plant.
The $48.6 million project is expected to create 163 construction jobs and 55 full-time jobs.
The board also voted to increase financial incentives for Yonkers Contracting for construction of a new facility at 969A Midland Avenue. The facility will be used for storage of construction equipment with a vehicle workshop and small office. Due to COVID-related delays, the project’s original cost estimate of $2.5 million increased to $6 million. The IDA board approved the applicant’s request to increase the sales tax exemption by $350,000 to $514,000.
In total, the projects represent $182.2 million of private investments.
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The Wheeler Block Building is gorgeous. This is great news.
This is great news 👏