Last month the Yonkers Industrial Development Agency voted final approval of financial incentives for 70 Pier Street, a $11.5 million mixed-use, transit-oriented development in the Ludlow neighborhood of Yonkers.
Developed by Ginsburg Development Companies (GDC), the four-story development will be located adjacent to the Metro-North Ludlow train station and will comprise of 36 apartments, ground-floor retail, residential lobby and amenities suite, and enclosed parking for 35 vehicles. GDC purchased the site in June 2018, formerly an office building and garage used by the Yonkers Parking Authority.
GDC will also be responsible for the revitalization of Abe Cohen Plaza, an existing public space that will receive new paving, landscaping, sidewalks, benches, lighting, an entrance arch, a new flagpole, a sculpture, and a new clock tower.
The 70 Pier Street project is receiving a $150,000 mortgage recording tax exemption and a sales use tax exemption of $426,000, and is the first of three multifamily buildings proposed by GDC for the city’s Ludlow neighborhood.
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This is right next to the train station and will be the shortest building on the block. They should be adding another 2 floors to make this a 60-unit 5-over-1.